Ebang To Start Bitcoin Mining Using Its Own Machines.

Ebang To Start Bitcoin Mining Using Its Own Machines.

2021-02-18 | Big Bob

Ebang To Start Bitcoin Mining Using Its Own Machines.

Nasdaq-listed mining manufacturer giant Ebang [EBON] announces its plans to start mining bitcoins using its own machines. According to an official update, the firm's board approved plans to work a Bitcoin [BTC, +2.15%] mining business involving a mixture of deploying its own machines, machines bought from other manufacturers, and leased computing power from other mining farms. Ebang expects mining to "hike our revenue in crypto business and optimize our product offering structure," CEO Dong Hu added within the official statement. The firm also plans to create data centers for its mining farms. The proprietary mining venture is among the latest expansion for Ebang. Earlier in December last year, the firm revealed that its plans to launch a crypto exchange later by April 2021. Shares of the Hangzhou, China-based company are trading at $10.38 USD, which is up 44% this year. But other public mining manufacturers like Canaan [CAN] have significantly outperformed Ebang with a 205% gain year so far.

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