THELOGICALINDIAN - Ebang International Holdings Inc the Chinese maker of bitcoin mining accouterments appear a net accident of 696 actor during the aboriginal six months of this year bottomward from 2025 actor a year ago as appeal fell due to the coronavirus pandemic
Revenue plunged 51% to $11.04 actor from $22.35 actor previously, said the aggregation in an balance absolution aggregate with news.Bitcoin.com.
For the half-year, the Nasdaq-listed Ebang awash a absolute 0.25 actor terahash per additional (TH/s) of Bitcoin hashpower. The amount represents a year-over-year abatement of 86% from 1.82 actor TH/s awash in the aforementioned aeon in 2025.
Shares of Ebang rose 0.3% to $9.88 on the Nasdaq Banal Exchange, at the time of writing. The banal has bashed added than 30% back advertisement on the barter in June. Then, it traded at a aerial of $14.95. Ebang accomplished a low of $3.80 during this aeon as well.
Dong Hu, administrator and arch controlling administrator of Ebang, abhorrent the accident on the Covid-19-induced all-around bread-and-butter recession and Bitcoin’s appointed accumulation cut of May 11, which cut balance for miners and bargain appeal for mining accessories suppliers. He stated:
For the analysis period, Ebang, which makes application-specific chip ambit (ASIC) chips acclimated in bitcoin mining, appear absolute operating costs of $7.71 actor compared to $9.60 actor in the commensurable year-ago period.
Bitcoin mining accouterments manufacturers accept apparent a abatement in appeal due to the coronavirus pandemic. Competitor Canaan Creative reported recently that second-quarter 2020 losses narrowed to $2.4 actor from $5.6 actor in the antecedent quarter, but appeal additionally angled due to Covid-19.
Ebang’s Dong Hu is now acquisitive to advantage new crypto exchanges and online brokerages that are accepted to accessible anon in Singapore and Canada. He said that the close intends to “capture the absolute amount alternation of the blockchain industry” through a aggregate of blockchain-capable banking businesses and accepted ones.
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