APAC will operate out of Malaysia initially, with plans to expand into Mongolia.
"Mining" refers to the process by which cryptocurrencies like Bitcoin and Ethereum are created. I won't get into the mechanics of mining now – but the gist is that "miners" help to verify transactions carried out between parties connected in an accounting network called a "blockchain".
This verification and reconciliation process takes up a lot of time and computer power, so in exchange the blockchain will reward miners for their efforts with an amount of that blockchain's cryptocurrency. And voila, a new baby Bitcoin, or Ripple, or Ethereum token comes into being.
Given the global interest in cryptocurrencies right now it's no wonder the market has responded so strongly to this latest announcement from Fatfish. A similar thing happened when the company bought a stake in another Singapore-based cryptocurrency consultancy startup in December.
Needless to say, all things cryptocurrency are incredibly high risk – so my advice would be to ignore the excitement for now and focus on investments in companies with established business models that can deliver sustainable sources of long-term growth.
