A graph showing energy readings of a cryptocurrency mining rig, on show at Thailand Crypto Expo 2022 in Bangkok, Thailand, which ended on Sunday, May 15. (Photo: Andre Malerba/ Bloomberg)
For Thailand’s market authorities, the Bitcoin’s rout has been one of the few tools to cool down the once-unstoppable Jasmine Technology Solution Plc.
The telecom-turned-crypto company has lost more than a third of its value in the past month, cutting its market capitalization to 260 billion baht (US$7.6 billion). That tumble also pared the wealth of its seven biggest individual shareholders, who had enjoyed earlier gains after the firm unveiled a plan in July to expand into Bitcoin mining.
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