There is a virtual currency called the "Bitcoin."
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The stock of Jasmine Technology has risen by over 7,000% since it announced it would be mining in the virtual currency.
The company's stock surge in 2021, which is valued at $2 billion, is the most among global tech companies.
In its most recent quarter, Jasmine Technology generated $14.8 million in total revenue, which included the sale of telecom equipment. In July it entered the mining sector with 325 devices. So far, it has generated eight bitcoins.
Net income for the first nine months of the year is $4.4 million, which is more than triple the amount from a year ago.
The Chairman of the Thai firm said in an interview that the firm plans to build up to 7,000 new mining machines next year.
The mining business can turn a profit as long as the price stays above $30,000, and 80% of the company's total turnover will come from that business. On Monday, it was trading at over $50,000.
Some at- home miners are saying that it is a great opportunity to jump in on the action, as cryptocurrencies have continued to gain popularity this year. Despite the fact that 90 percent of all bitcoins have been mined, the enthusiasm from firms like Jasmine Technology Solution has surged.
Business Insider has an original article.
