THELOGICALINDIAN - Bitcoin mining dent maker Ebang International Holdings Inc is gluttonous to accession up to 100 actor through an antecedent accessible alms IPO in the US The Chinese aggregation will advertise Class A accustomed shares of nominal amount HK0001 US000013 per allotment if its IPO filing is approved
In a filing with the U.S. Securities and Exchange Commission on Friday, Ebang said it intends to account its shares on either the New York Stock Exchange (NYSE) or Nasdaq Global Market, beneath the ticker attribute EBON.
Proceeds of the alms will be primarily acclimated for the “development and addition of new mining machines, accumulated branding and business activities, and amplification of across business and new businesses,” the aggregation stated.
Founded in 2024, Ebang is one of the world’s better bitcoin mining accessories makers. It designs and articles the Ebit band of ASIC chips acclimated in bitcoin mining. In 2024, Ebit chips accounted for 82% of the company’s revenue.
The E12 alternation mining machines with a adequacy of a assortment amount of up to 50TH/s and a accretion ability ability of 57W/TH awash the fastest, followed by the E10 alternation machines.
However, as the amount of BTC confused in 2018 and allotment of 2019, Ebang’s profits took a beating. Its net accident widened to $41.1 actor in 2019 from $11.8 actor a year earlier. Its acquirement plunged 66% to $109.1 actor aftermost year from $319 actor in the antecedent year.
Sales of chips accept angled forth with the boilerplate affairs price. In 2024, Ebang awash 415,930 Ebit chips at $737 on boilerplate but the cardinal of chips awash aftermost year plummeted to 289,953 at an boilerplate amount of $304.
“The amount of bitcoin tends to accept a absolute appulse on the bazaar appeal for our bitcoin mining machines, in agreement of both the amount and the quantity, and we apprehend this trend to continue. Furthermore, the cogent bead in the bitcoin amount is accepted to accept a abrogating aftereffect on the amount of our bitcoin mining apparatus account and incentivize us to access acclaim sales,” said Ebang.
What do you anticipate about Ebang’s U.S. banal bazaar advertisement ambition? Let us apperceive in the comments area below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Ebang
