Connect with us


Equipment maker Bitcoin Mining Ebang files $ 100 million IPO for U.S. IPO


Equipment maker Bitcoin Mining Ebang files $ 100 million IPO for U.S. IPO

Mining chip maker Bitcoin Ebang International Holdings Inc. is seeking to raise up to $ 100 million through an initial public offering in the United States. The Chinese company will sell Class A common shares with a par value of HK $ 0.001 (US $ 0.00013) per share if its IPO filing is approved.

In one deposit Last Friday, Ebang announced its intention to list its shares on the New York Stock Exchange (NYSE) or on the Nasdaq Global Market, under the symbol EBON.

The proceeds of the offering will be primarily used for the “development and introduction of new mining machinery, branding and corporate marketing activities, and the expansion of overseas business and new enterprises”, a declared the company.

Founded in 2010, Ebang is one of the largest manufacturers of bitcoin mining equipment in the world. He designs and manufactures the Ebit range of ASIC chips used in bitcoin mining. In 2019, Ebit chips represented 82% of the company’s revenue.

The E12 series mining machines with a chop rate capacity of up to 50 TH / s and a computing power efficiency of 57 W / TH sold the fastest, followed by the E10 series machines.

However, as the price of BTC tumbled in 2018 and part of 2019, Ebang’s profits were beaten. His net loss widened to $ 41.1 million in 2019, from $ 11.8 million a year earlier. Its revenue plunged 66% to $ 109.1 million last year, from $ 319 million the previous year.

Crisps sales fell with the average selling price. In 2018, Ebang sold 415,930 Ebit chips at $ 737 on average, but the number of chips sold last year dropped to 289,953 at an average price of $ 304.

“The price of bitcoin tends to have a direct impact on the market demand for our bitcoin mining machines, in terms of price and quantity, and we expect this trend to continue. In addition, the significant drop in the price of bitcoin should have a negative effect on the value of our stock of bitcoin mining machines and encourage us to increase sales on credit, “said Ebang.

What do you think of the ambition of the stock market listing of Ebang in the United States? Let us know in the comments section below.

Image credits: Shutterstock, Pixabay, Wiki Commons, Ebang

Buy Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here.

Warning: This article is for informational purposes only. It is neither an offer nor a solicitation of an offer to buy or sell, nor a recommendation, approval or sponsorship of products, services or companies. does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or supposed to be caused by or in connection with the use or trust in the content, goods or services mentioned in this article.

Read the disclaimer

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

picture credit


to request, modification Contact us at Here or [email protected]