Bitcoin Continues Downward Movement Despite Short Rebound

Bitcoin remains below $40,000, today (Feb. 23) at 8:10 AM the Bitcoin price rose 2.31% to $38,088.

Meanwhile, stock markets in the U.S. continue on their downward path. The Dow Jones Industrial Average fell 482 points on Tuesday (Feb. 22) after Russia declared the Donetsk and Luhansk regions in the Donbas independent and deployed troops to secure the regions.

  • The Dow Jones Industrial Average fell 482.57 to 33,596.61.
  • The S&P 500 fell 1% to 4,304.76.
  • The NASDAQ fell 1.2% to close at 13,381.52 points.

In Thailand, the company ZIGA continues to invest in bitcoin mining and plans to invest 1 billion baht in new mining equipment. The investment is to be made together with two subsidiaries and is expected to expand the technology business.

The main revenues of ZIGA Innovation Public Company Limited are derived from the steel tube business. The percentage of revenues from the steel business is currently 90%.

The company continues to invest in bitcoin mining, with an investment of 300 million baht in the first quarter of 2022, adding another 200 machines, bringing the total to 400 mining machines in the first quarter of 2022.

The company plans to continuously invest in mining equipment, for which the company has a limit of 4,000 million baht, which has already been approved by the shareholders’ meeting.

Currently, the registration statement is filed with the office of the Securities and Exchange Commission (SEC).

In addition, the company cooperates with 2 joint venture companies, Merlinton Innovation Company Limited, to invest in and develop businesses related to digital technology, and Wisden Group Company Limited, to develop crypto business such as NFT games and tokens.

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