Ziga Innovation Public Company Limited

Bitcoin's price rebounded strongly from a base of around 62,000 US dollars per BTC after mid-August 2026, rising to test above 81,000 US dollars per BTC as of 25 August 2026. This led five Thai stocks, namely BTC, TTA, JTS, XPG and ZIGA, to be speculated on along with the trend. Mr. Piriya Samphantharak, a Bitcoin expert, said the price in this cycle may still not break the previous year's high of 97,900 US dollars per BTC because trading volume slowed after the initial period. Meanwhile, Mr. Wongsakorn Nakasomboon, fund manager at Merkle Capital Company Limited, views the key short-term technical resistance at around 88,000 US dollars per BTC, with key support levels at 72,000, 70,000 and 68,000 US dollars respectively, supported by ETF funds and progress on the United States' strategic Bitcoin reserve policy. Mr. Korn Hathaisattha, CFA, IAA, head of investment strategy for retail research at CGS International Securities Thailand Company Limited, warned that stocks in this group are high-risk speculation and prices have already risen a lot, even though some companies, especially BTC or Brooker Group Public Company Limited, have already reduced their Bitcoin holdings. Mr. Supakit Ngamjitjaroen, chief executive officer of Ziga Innovation Public Company Limited or ZIGA, revealed that the company still believes in long-term investment in Bitcoin, and the price increase may allow the company to turn around and record a profit in the third quarter after a loss from mark-to-market valuation of about 3 to 4 million baht in the second quarter.

ZIGA announced an increase in its 2026 growth target to 30% from 15% after second-quarter 2026 results recovered far more strongly than expected, with total revenue of 142.1 million baht, up 18.7% year on year, and net profit of 14.1 million baht, up 150.9%. Chief Executive Officer Supakit Ngamjitjaroen said the company has reduced accumulated losses to only about 4 million baht and expects third-quarter 2026 growth to continue from the steel business and the Bitcoin business, as Bitcoin's price recovery to around 2 million baht per BTC gives the company a chance to book a positive impact of about 6 to 7 million baht. The strategy to expand the B2C market has been better received than expected, bringing gross margin back to nearly 30%, similar to the period before the company listed on the stock exchange.

ZIGA signals continued growth in the second half of 2026 after accelerating its push into the B2C market and increasing the share of high-margin innovative products. CEO Supakit Ngamjitcharoen revealed that the company expects the second-half trend to be better than the first half, supported by brand building in the wholesale segment, expansion into the direct consumer market, data center investments, and government mega-projects. The company is also moving ahead with the launch of a new product, shrimp shaft steel, under the ZUPER ZIGA brand, as the sole domestic producer targeting shrimp farms nationwide. This aims to lift the gross profit margin, which stood at around 20 to 30 percent in the first quarter of 2026, with further improvement expected in the second and third quarters. In the digital asset business, the company has zero Bitcoin mining costs thanks to solar cell systems and fully paid-off mining rigs. It currently holds about 14 to 15 Bitcoin, representing an investment of less than 3 percent of cash flow, or approximately 40 million baht, with a long-term investment plan as a cash management tool. Under the Jump+ plan, the company had set a 2028 net profit target of 30 million baht, but now expects to exceed that original target, driven by factors including the business model shift to B2C, the addition of high-margin innovative products, support from data centers, and financial discipline.