U.S. markets closed
  • S&P Futures

    4,167.75
    +10.00 (+0.24%)
     
  • Dow Futures

    34,358.00
    +102.00 (+0.30%)
     
  • Nasdaq Futures

    13,348.00
    +44.50 (+0.33%)
     
  • Russell 2000 Futures

    2,232.60
    +7.10 (+0.32%)
     
  • Crude Oil

    66.46
    +0.19 (+0.29%)
     
  • Gold

    1,871.50
    +3.90 (+0.21%)
     
  • Silver

    28.68
    +0.41 (+1.44%)
     
  • EUR/USD

    1.2167
    +0.0010 (+0.09%)
     
  • 10-Yr Bond

    1.6400
    +0.0050 (+0.31%)
     
  • Vix

    19.72
    +0.91 (+4.84%)
     
  • GBP/USD

    1.4168
    +0.0031 (+0.22%)
     
  • USD/JPY

    109.1680
    -0.0320 (-0.03%)
     
  • BTC-USD

    44,885.05
    +413.56 (+0.93%)
     
  • CMC Crypto 200

    1,235.19
    +37.28 (+3.11%)
     
  • FTSE 100

    7,032.85
    -10.76 (-0.15%)
     
  • Nikkei 225

    28,436.25
    +611.42 (+2.20%)
     

Ebang Prepares To Launch Bitcoin Mining Business

  • Oops!
    Something went wrong.
    Please try again later.
Anusuya Lahiri
·1 min read
  • Oops!
    Something went wrong.
    Please try again later.
  • Ebang International Holdings Inc. (NASDAQ: EBONintends to launch its Bitcoin mining business through the combined deployment of self-manufactured mining machines and third-party mining machines and leasing computing powers under a resolution approved in its board meeting.

  • The company also plans to invest in data center constructions in support of Bitcoin mining activities.

  • "With the development of Bitcoin mining business, the company will not only just continue to position itself as a Bitcoin mining machine producer. This move will increase our revenue in the cryptocurrency business and optimize our product offering structure. We believe it will help the company's transformation from a hardware manufacturer to a blockchain company with comprehensive involvements in its industry chain," said Ebang CEO Dong Hu.

  • Ebang raised million in an upsized secondary offering last week. The offering proceeds were meant to be utilized for R&D, production, and sales of ASICs and equipment related to cryptocurrencies, expansion of its cryptocurrency mining business and establishment and operation of cryptocurrency mining farms, and general corporate purposes.

  • Price action: EBON shares are up 21.6% at $9.58 on the last check Wednesday.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.