Thailand Telecoms Firm To Expand Into Bitcoin Mining

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Jasmine Telecom Systems, a publicly-listed unit of Thai telecoms operator Jasmine International, is set to ride the Bitcoin mining wave, with plans to install tens of thousands of mining machines over the next few years.

Fast facts

  • JTS is kicking off plans to deploy 500 mining machines in a data center in the third quarter of this year, with another 5,000 machines set to come online next year, the Bangkok Post reported yesterday.
  • The company aims to operate the largest Bitcoin mining farm in Southeast Asia by 2024, as it hopes to have about 50,000 machines in operation before the next Bitcoin halving, which is expected in 2024, according to the report.
  • JTS said that it was now a good time to invest in Bitcoin mining, given the low hashrate following China’s crackdown on the industry.
  • The company’s move comes as China continues tightening the vise on the crypto mining sector. In response, Chinese miners are migrating to countries where they are less unwelcome.

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