Ebang planning to expand business to mine LTC and DOGE

According to an announcement from Chinese mining equipment supplier Ebang, the mining firm’s board passed a resolution today to establish a Litecoin (LTC) 和狗狗币 (狗狗) mining business. Ebang says it will use some of its own rigs in addition to purchasing some from other crypto mining manufacturers.

By “leasing computing powers from other mining farms,” Ebang claims it will be able to mine the two tokens simultaneously. CEO Dong Hu said the move was part of the company’s transition from a manufacturer of mining equipment to a “diversified and vertically integrated blockchain company.”

“We will develop LTC and Doge mining on the basis of our Bitcoin mining business,” said Hu. “The development of the business will further promote our related cryptocurrency-focused businesses and increase our revenue.”

The Chinese firm has been selling its own brand of mining equipment since December 2016. 然而, as part of its announcement going public on the Nasdaq Global Market last June, Ebang said it would be expanding its services to include crypto mining facilities. 上个星期, the firm announced it would be establishing a Bitcoin (比特币) mining business, and it reportedly plans to launch a cryptocurrency exchange before the end of Q1 2021.

Like Bitmain, MicroBT and Canaan, Ebang is considered one of the largest mining equipment makers globally. Since going public, the company’s stock has increased more than 60%, 从 $5.00 至 $8.05 在出版时. It is also planning to expand its services to New Zealand by purchasing a local financial firm and setting up a digital asset platform.

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资源: 声电图