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Ebang, Mining Device Producer, Set to Commence BTC Mining

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Ebang (EBON) which is known for producing crypto mining devices is set to launch its BTC Mining venture. It appears that the rationale behind this is to augment income and maximize the Company’s “product offering structure.”

Apparently, Ebang, which is quoted on the National Association of Securities Dealers Automated Quotations (NASDAQ) plans to start using its own mining productions to produce BTC.

According to a recent press release, the mining machine manufacturer’s Board of Directors already gave the management team the go ahead to commence bitcoin (BTC, +7.15%) mining operations.

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The BTC mining business will entail utilizing what it already manufactures- its mining devices cum other manufacturer’s machines to mine the leading currency. It also plans to lease “computing power” from external mining outlets.

Ebang’s CEO, Dong Hu,  notes:

 “increase our revenue in cryptocurrency business and optimize our product offering structure.”

It appears that constructing data centers are also in the works for the Company’s mining outlets. These outlets are also called mining farms.

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This is not the only forward going plans the Hangzhou, China headquartered ,company has in the works. Asides from going live with its mining business, the Company revealed that it was set to also go live with its crypto exchange come mid 2021.

Ebang’s stocks are exchanging hands at $10.38, this is approximately an upward hike by 44% already in the fresh new months of 2021.

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