Bitcoin mining entry triggers a 6,700% surge in Thai tech stock

A world-beating share rally by a Thai technology company after it unveiled an expansion into Bitcoin mining has surprised even the firm’s chairman.

Jasmine Technology Solution Plc stock has more than tripled since the plan was announced in late July, although the cryptocurrency project has yet to generate significant earnings for the firm. Year-to-date, the share surge is nearly 7,000%, most among global tech companies with a market value of at least $2 billion, according to data compiled by Bloomberg. 

“The strong response from investors has exceeded our expectations,” Chairman Soraj Asavaprapha said in an interview. “There’s bullish optimism toward our new direction even though this is just the beginning.”

Jasmine Technology is just one of many Thai firms diversifying into the digital-asset arena. Consumer-appliance maker AJ Advance Technology Plc…