Ebang International, one of the leading manufacturers of Bitcoin (BTC) mining equipment, plans to operate directly in this business through the rental of hash rate from other mining farms . Not without offering more details on this subject.
The information was published in a brief statement posted on its portal, through which it announced that it also plans to use self-manufactured mining equipment, in combination with the purchase of mining machines created by other firms.
In the document, dated February 17, 2021, in Hangzou province, China, the company commented that this decision was made in the framework of a meeting of the board of directors, where the resolution to enter the Bitcoin mining business was approved. The company also plans to invest in the construction of data centers to provide support for these activities.
In this regard , Dong Hu, President and CEO of Ebang, commented that by getting involved in the bitcoin mining business, the company not only hopes to position itself as a producer of bitcoin mining machines:
This move will increase our revenue in the cryptocurrency business and optimize our product offering structure. We believe it will help the company’s transformation from a hardware manufacturer to a blockchain enterprise with comprehensive implications in its industry chain.
Dong Hu, CEO de Ebang.
However, the statement ends by notifying shareholders that there is no guarantee that the business The company’s Bitcoin miner starts up as planned, or such a trading operation improves its financial performance.
Ebang to launch cryptocurrency exchange
On December 31, 2020, the company, considered one of the most recognized players in the development and commercialization of equipment specialized ASICs for cryptocurrency mining, announced in a press release that it also plans to officially launch its exchange in the first quarter of 2021.
The company clarifies that has completed the internal tests of the cryptocurrency exchange, at the same time that the public study began.
In that opportunity, Dong Hu commented that the completion of the internal testing of the cryptocurrency exchange is a further step in the expansion of the “blockchain financial services” business.
«In the meantime, we will also explore other business opportunities in the blockchain and cryptocurrency industry, such as the establishment of mining farms and cryptocurrency mining to optimize the structure of our offerings in the value chain of the blockchain industry, “he added.