JTS Moves Forward to Seize the Bitcoin Mining Business
JAS moves forward with growth plans, sending JTS to seize the Bitcoin Mining business.
Jasmine International Public Company Limited (JAS) sends Jasmine Telecom Systems Public Company Limited (JTS) into the Bitcoin Mining business, aiming to be the center of the largest Bitcoin Mining Farm in Southeast Asia by 2024
Currently, JTS has begun installation and commissioning of Bitcoin miners, and has signed a contract for an additional 500 miners, which will begin shipping and gradual installation in the 3rd Quarter of 2021 at the Jastel Data Center. Moreover, the second phase expansion is also underway with an additional mining capacity of 5,000 machines aimed to be located at industrial estates which will be ready in early 2022. With the readily available Electrical infrastructure of the industrial estates and the Broadband Connection that Jastel Network Co., Ltd. has been providing for its various industrial estates partners for a long time, the installation and deployment of the second phase will happen quickly.
Mr. Dusit Srisangaoran, President of JTS, also added that recently JTS has completed its acquisition of Jastel and is ready to expand the business based on the experience of providing high standard Data Center services by professional and capable personnel with strong local and foreign partners. He added that the company has been studying Bitcoin for a while, and now is a good timing and opportunity for JTS, given the widespread adoption of Bitcoin and the incident in China which has caused the hashrate to drop to an 8-month low.
Mr. Subhoj Sunyabhisithkul, Acting CEO of Jasmine International Public Company Limited, also emphasized the success of 3BB as “One of the World’s Fastest Broadband Provider” that provides Broadband Internet with a minimum speed of 1Gbps, which currently has 3.5 million customers. He added that this is another significant step for JAS to enter into a challenging new business. He views the Crypto Currency related business as the world’s Mega Trend where various decentralized computational processing will benefit JAS in expanding into many other businesses in the future and, overall, is confident that Bitcoin Mining business operations will certainly be successful.
As for its business and investment plans, JTS aims to expand its mining capacity to 50,000 machines before the next Bitcoin Halving, which is expected to happen sometime in 2024. With this capacity and the current Difficulty Level of BTC mining, JTS will be able to mine more than 16,000 BTC per year (current price of 1 BTC is equivalent to 1,056,205 baht). The company will have a total mining capacity of more than 5 Exahash per second (EH/s), or about 5% of the total global mining capacity and it will definitely become the center of the largest Bitcoin Mining Farm in Southeast Asia.