THELOGICALINDIAN - Ebang the ASIC dent and mining rig architect based in Hangzhou China is allegedly filing for an antecedent accessible alms IPO in the US afterward Canaans contempo Nasdaq advertisement and Bitmains abstruse IPO filing The worlds thirdlargest bitcoin mining accouterments architect affairs to chase Canaans footsteps with an attack to be listed on the American banal barter Nasdaq
Also read: Mining Giant Bitmain Confidentially Files for U.S.-Based IPO
Ebang Plans to File an IPO in the U.S.
Bitcoin mining has become an more aggressive industry and now three of the better mining accouterments manufacturers in China achievement to advantage accessible offerings. Recently Canaan filed for IPO cachet in the U.S. and shares are already listed beneath the ticker NASDAQ: CAN. Further, during the aftermost anniversary of October, letters disclosed that Bitmain confidentially filed for a U.S.-Based IPO. On December 4, bounded account outlets revealed that ASIC dent and mining rig aggregation Ebang affairs to book for IPO cachet in the U.S. in the abreast future. The accomplice at the blockchain adventure basic close Linkvc, Zhang Li detailed that he “confirmed” the IPO filing with the close and “[Ebang] is planning to account on the Nasdaq as well.” “Go, go, China’s mining industry,” Zhang added.
The bounded crypto advertisement 8btc accomplished out to Ebang, but the Hangzhou-based close declined to comment on the matter. Created in 2010, Ebang claims to abduction almost 9.2% of the allotment of mining accessories sales worldwide. The Chinese close additionally filed for an IPO cachet on Hong Kong’s banal barter (HKEX), but let the filing blooper in June. Bitmain filed for an IPO in Hong Kong but let the filing expire as well. Back Ebang filed for the Hong Kong IPO, sources said the aggregation would attack to advertise its banal for $400 million. The HKEX filing database that show’s Ebang’s announcement acclaimed the aggregation absent cogent balance in Q3 2018. “We accomplished cogent decreases in acquirement and gross accumulation for the three months concluded September 30, 2018, compared to the above-mentioned three months concluded June 30, 2018,” Ebang’s HKEX filing reads. The $400 actor amount was bargain afterwards the poor balance during the crypto winter of 2018 back it was initially reported by Reuters in August that Ebang was gluttonous $1 billion.
From Telecommunication Hardware to In-House ASIC Manufacturing
It is currently alien what Ebang will attack to accession back it files in the U.S., but Canaan aloft $90 million. Allegedly, Bitmain’s arcane IPO filing is cutting for $500 actor and will use Nasdaq for advertisement as well. Ebang calls its mining accessory alternation ‘Ebit’ and the Ebit E11 is the eighth best profitable bitcoin miner on the bazaar today at accepted prices.
The apparatus was launched in October 2018 and claims to action 44 terahash per additional (TH/s) with 1980W off the wall. Ebang aloof awash out of the company’s latest release, the Ebit E12 that processes 50 TH/s of SHA256 hashrate application its apart created 10nm dent alleged the “DW1233.” The Ebit E12 awash for $2,410 per assemblage on the company’s webshop. The Ebit E11 (44 TH/s) units are additionally awash out, but earlier Ebit models with lower hashrates can still be purchased.
Initially, back Ebang was created, the aggregation committed its efforts to accomplishment articles for telecommunication firms, but after alien Ebit bitcoin miners. The latest move to go accessible additionally follows Ebang’s affiliation with the HKEX-listed aggregation Madison in October. According to reports, Ebang signed an MOU with Madison and the aggregation would access added than $100 actor account of blockchain-related hardware.
What do you anticipate about Ebang activity accessible in the U.S.? What do you anticipate about all three above Chinese mining manufacturers activity IPO? Do you anticipate this will advice bolster the mining industry? Let us apperceive what you anticipate about this accountable in the comments area below.
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Image credits: Shutterstock, Ebang Communications, Canaan,
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