Wer Cryptowährungen für langweilig hält, weiß definitiv nicht, wie viel Einfluss sie auf die Bewertung eines Geschäftsmodells eines Traditionsunternehmens haben können.
Call it hype or call it a strategic investment. Still, a tech company in Thailand has appreciated nearly 7,000% in one year after announcing a move to a more cryptocurrency-centric business model.
To infinity and beyond
Jasmine Technology Solution, a telecommunications-focused company founded in the 1990s, announced in July this year that it would soon be targeting the cryptocurrency mining business.
And anyone who thinks the overreaction to the announcements was just a crypto thing has definitely not seen the company’s stock charts. Thanks to this turnaround, Jasmine Technology Solution’s share price soared, outperforming year-to-date growth of 6,700%. All thanks to the magic of Bitcoin.
Jasmine Technology Solution started the year stable at $ 2 per share. Today, each share trades on the order of $ 132.5 after breaking one on December 15th ATH of $ 150.
JTS Award in 2021. Image; Trade view
Since then, the price has gone sideways, hovering between $ 236 and $ 138 per share.
And if such a bullish performance sounds incredible, you might want to hold on to your chair when you read that the company has generated 8 BTC from its mining operation to date – and no, that’s not a typo.
The Bitcoin Effect
Jasmine Technology Solution has high expectations. Its website claims that the company intends to be the largest Bitcoin mining-Farm in Thailand with the expectation to run the most prominent cryptocurrency mining operation in Southeast Asia before the next Bitcoin halving in 2024.
Those goals are far more ambitious than the 8 bitcoins they have mined so far, and even one of the company’s chief executives, Soraj Asavaprapha, said in an interview shared by Bloomberg that the reaction from investors was surprising;
“The strong response from investors exceeded our expectations. There is optimism about our new direction, although this is just the beginning. “
This isn’t the only company that relies on cryptocurrencies. The most prominent example in the crypto ecosystem is MicroStrategy, a cloud software company that garnered heavy public attention – and sky-high esteem – following CEO Michael Saylor’s aggressive Bitcoin buying strategy.
On the other side of the coin, companies like HTC and Kodak experimented with the introduction of devices that targeted the crypto ecosystem to renew their brand without getting very encouraging results. A new company that puts its toes in the DeFi-Rabbithole pops up, it’s RadioShack.
HTC Exodus range of crypto smartphones. Image: HTC
And finally, there are companies like the tea and soda maker Long Island Ice Tea Corp. that suddenly changed their name to Long Blockchain Corp. changed to withdraw their stock, only to crash and land in a series of lawsuits.
The future of Jasmine Technology Solution is not yet written, and the possibilities – good or bad – are endless for the company.
Source: Crypto News Deutsch