Main Chinese language Bitcoin (BTC) mining tools maker Ebang, which is reportedly getting listed on Nasdaq World Market later right this moment, is
Main Chinese language Bitcoin (BTC) mining tools maker Ebang, which is reportedly getting listed on Nasdaq World Market later right this moment, is planning to broaden its enterprise by organising a cryptocurrency alternate and mining farms.
As informed to Cointelegraph by an Ebang consultant in a latest interview, the corporate intends to carve out a singular position within the trade by constructing “a world blockchain and a digital economic system industrial ecosystem.” That would come with organising a cryptocurrency alternate and mining services, the spokesperson elaborated:
“We are going to quickly set up our personal mining farms with [a] versatile cooperation mannequin […] in addition to mining swimming pools to promote our computing energy and we may even begin to arrange [a] cryptocurrencies buying and selling alternate.”
Moreover, the Hangzhou-based firm will “discover the applying of blockchain expertise into monetary companies, training and healthcare industries.”
Getting listed on Nasdaq will assist the crypto agency to pursue these plans, the Ebang consultant added, since it is going to supposedly improve its model consciousness and “entice extra expertise.” Being a publicly traded firm might additionally assist organising a cryptocurrency alternate:
“Credit score is crucial level for establishing the cryptocurrencies buying and selling alternate, and a Nasdaq listed firm regulated by U.S. Securities and Trade Fee ought to be capable to strictly management the compliance and security of the transaction.”
Such plans are additionally documented in filings the corporate submitted to the SEC, the place it described setting a cryptocurrency alternate “in abroad jurisdictions.” Though Ebang relies in China, the place cryptocurrency commerce is outlawed, its holding firm is integrated within the Cayman Islands.
The $125 million IPO is about to start out
As beforehand reported by Cointelegraph, Ebang is anticipated to get listed on Nasdaq World Market beneath the ticker EBON later right this moment, on June 26. If the inventory alternate launch goes by, it is going to develop into the second crypto mining firm to go public in the USA after its competitor, fellow China-based agency Canaan.
Ebang goals to boost as much as $125 million, which might put its market worth near $800 million.