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Ebang is to build crypto exchange and mining farms after the IPO

June 26, 2020

Ebang, the major Chinese manufacturer of Bitcoin mining machinery (BTC), which later appears to be listed on the Nasdaq global market, He plans to expand his business by creating a currency exchange and mining business.

As a representative of Ebang Cointelegraph said in an interview recently The company intends to play a unique role in the industry by building “a global blockchain and an industrial ecosystem of the digital economy”. This includes establishing a cryptocurrency exchange and mining facilities, the spokesman said:

“”We will soon be founding our own mining operations [un] flexible cooperation model […]as well as mining pools to sell our computing power and we will also start to establish [un] Cryptocurrency trading exchange. “

Ebang is to build crypto exchange and mining farms after the IPO
Ebang is to build crypto exchange and mining farms after the IPO

Also, the enterprise based in Hangzhou “It will explore the use of blockchain technology in the financial services, education, and healthcare sectors.”

The representative from Ebang added The Nasdaq listing helps the crypto company implement these plansBecause it should improve your brand awareness and “attract more talents”. Being a listed company could also help set up a crypto exchange:

“Credit is the most important point to set up cryptocurrency exchangeand a company listed on the Nasdaq and regulated by the United States Securities and Exchange Commission should be able to closely monitor compliance and transaction security. “

These plans are also documented in the company’s filings with the Securities and Exchange Commission (SEC), which described the creation of a “foreign jurisdiction” crypto exchange. Although Ebang is based in China, where cryptocurrency trading is prohibited, its holding company is registered in the Cayman Islands.

The $ 125 million IPO is about to begin

As Cointelegraph previously reported, Ebang is expected to trade today, June 26, under the EBON ticker on the Nasdaq Global Market.. When the exchange launches, it will be the second crypto mining company listed in the U.S. after its competitor, Chinese company Canaan.

Ebang plans to raise up to $ 125 million, which could bring its market value close to $ 800 million.

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