UPA announces full digital assets! Initial delivery of 400 crypto mining machines, the first lot installed at the Pakse mine in Lao PDR. Apr. Prepare to install 4,000 more devices, investment amount 440.9 million baht, beside “Kawin Chalermroj”, Assistant Chief Executive Officer Identify it as a potential business that can drive the business to grow stronger. Confident in supporting the future with leaps and bounds Confident that the year’s performance in year 65 will grow strong
Mr. Kawin Chalermroj, Assistant Chief Executive Officer of United Power of Asia Public Company Limited (UPA) revealed that the company has ordered a cryptocurrency miner. to install at the mine in Pakse Champasak Province, Lao PDR, which is a mining venture with Asia Investment and Financial Services Sole Company Limited (AIFS), totaling approximately $13.48 million, or about 440.9 million baht, by installing a cryptocurrency mining machine. 400 Cryptocurrencies Completed, Ready to Mining Cryptocurrency Able to recognize revenue immediately in 1Q22 and will gradually install another 4,000 units, which is expected to be completed by April 2022 and can recognize all revenue in 2Q22
“The company informed is to want to show the commitment and important developments in business and to build confidence for investors and shareholders In the past, our management team has studied information about the Bitcoin mining business very well. Believe that it will give a return that is worth the investment. Increase the opportunity to generate income and profit for the company. In addition to the power plant business and real estate” Mr Win said
Assistant Chief Executive Officer UPA added that the outlook for 2022 business is expected to grow exponentially. compared to last year from the gradual recognition of income from investment returns in various projects both from the old business and the new business especially digital asset business And the company is still looking for new opportunities. to expand investment for strong and sustainable growth create good returns for shareholders in the future
Incidentally, the Board of Directors’ meeting of the Company on February 11, 2022 passed a resolution approving the investment in digital asset business. by verifying transactions that use cryptocurrencies or cryptocurrency mining (Cryptocurrency Mining) in the Lao People’s Democratic Republic (Lao PDR) in the amount of 25 million US dollars or approximately 817.7 million baht.