[Asia Economy Reporter Jang Hyowon] Joyoung Tech, a developer of PCs dedicated to virtual asset mining, is showing strong performance amid the Bitcoin boom.
As of 10:03 AM on the 12th, Joyoung Tech is trading at 1,185 KRW, up 5.33% from the previous trading day.
According to industry sources, the price of graphics cards has surged from around 600,000 KRW in October last year to over 2,000,000 KRW currently, with the shortage worsening.
The price increase is due to miners sweeping up graphics cards used in mining rigs amid the Bitcoin market boom, while additional supply from Taiwan's TSMC and Samsung Electronics, manufacturers of graphics processing unit (GPU) components, remains limited.
Meanwhile, Bitcoin is trading in the 78,000,000 KRW range as of the morning of the 12th.
Virtual asset experts expect the Bitcoin rally to continue for the time being. Anthony Scaramucci, founder of Skybridge Capital and former White House spokesperson during President Trump's administration, predicted that "Bitcoin will surpass $100,000 (approximately 120,000,000 KRW) within this year."
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