Thailand to get its first crypto mine next year

0


Jaturapuch added that though trading in cryptocurrency is still volatile, investment in crypto-mining rigs is gaining momentum as investors tend to buy rigs in bulk during the downward trend in anticipation that mining can start again once the currency surges.

“Currently, mining rigs are being sold at about 300,000 baht, down from 400,000 baht per rig earlier this year. This price drop has attracted several prospectors to invest in rigs and mines,” he said. “Investments in crypto mining usually break even in about 40 to 45 months, depending on the management of mining and investment portfolio.”

Jaturapuch added that in the first quarter of the year, Mining Pro made 200 million baht in revenue from selling and renting mining rigs, and aims to make 1 billion baht in revenue by the end of this year.

“This year we saw more foreign investors entering the crypto-mining business in Thailand, especially from Laos which collects higher mining licence fees than Thailand, and China where crypto mining is banned. Other nations include Vietnam, Hong Kong, Russia and Singapore,” he added.



Read More: Thailand to get its first crypto mine next year

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments