Ebang plans to create its own exchange and mining farms

Chinese-based Bitcoin mining equipment maker Ebang announced its plans to expand its business through the creation of a currency exchange and the establishment of mining farms.

Ebang plans to create its own exchange and mining farms

Chinese companies don't want to be left out of the cryptocurrency business

Chinese-based Bitcoin mining equipment maker Ebang announced its plans to expand its business through the creation of a currency exchange and the establishment of mining farms. A representative from Ebang stated that the company plans to create a global blockchain and a digital economy industrial ecosystem that allows it to play a unique role in the industry. 

** Ebang, one of the largest manufacturers of Bitcoin (BTC) mining hardware in China, has filed with the United States Securities and Exchange Commission (SEC) a request for an initial public offering (IPO) worth USD 100 millions.

The representative of Ebang explained that the creation of its own blockchain network, its own exchange and its own mining farms are part of an ambitious plan by the company to position itself in a solid place within the industry: "We will soon establish our own mining farms. with [a] flexible cooperation model [...], as well as mining pools to sell our computing power and we will also start establishing [a] cryptocurrency trading exchange. " Ebang's intention is for its blockchain network to be applied in financial services, education and health industries.

** South African peer-to-peer blockchain platform Sun Exchange announced the closure of its Series A funding round after obtaining a $ 3 million investment from Arch Emerging Markets Partners.

The probability that the company will be listed on the Nasdaq world market is very high, and it would become the second crypto company to be listed in the United States after Canaan, its main competitor. Al respecto, el representante de Ebang dijo: "El crédito es el punto más importante a establecer el exchange de criptomonedas, y una empresa que cotice en el Nasdaq y esté regulada por la Comisión de Valores y Bolsa de los Estados Unidos debería poder controlar estrictamente el cumplimiento y la seguridad de la transacción".