NR Instant Produce Public Company Limited (SET: NRF) announced on Monday that its subsidiary eKold Limited will invest up to THB40 million in cryptocurrency mining in a bid to expand business opportunities in blockchain technology.
Thailand’s leading Southeast Asian food producer and distributor addressed that the Executive Committee’s meeting on May 28, had passed a resolution to invest in cryptocurrency mining to pursue its clean energy-focused aims. This project is expected to increase business opportunities and pave the way to help reduce global warming as well as driving decarbonization of fossil fuels to avert global climate change.
The Company anticipates that blockchain technology would become the driver for sustainable growth of the business as well as being the powerful tool to tackle global warming and climate change. The Company plans to integrate blockchain technology to add value to the core business in the future, for example, expansion of revenue channel, efficiently control production cost, ability to access customers’ demand and improving business process efficiencies while maintaining transparency and stability in order to approach the goal to create sustainability in food and agricultural industry with social and environmental responsibility.
The transaction is expected to be completed within June 2022.
