Ebang will start mining BTC on its own ASIC miners

Chinese mining equipment manufacturer Ebang will start mining bitcoin using its own ASIC miners and leasing computing power from other farms.

According to the press release, the company’s board approved a plan to launch bitcoin mining operations, including the deployment of its own ASIC miners, the use of equipment purchased from other manufacturers and the lease of computing power from other mining farms.

According to Ebang CEO Dong Hu, the company expects mining to ” increase revenue from the cryptocurrency business and optimize the product offering structure.” The company also plans to build data centers for its mining farms.

Last summer, Ebang also announced plans to launch its own exchange in Singapore. Ebang was listed on the Nasdaq stock exchange on June 26 last year. The company was able to sell 19.3 million shares and earn about $101 million. In addition, in the summer of 2020, Ebang first announced plans to create mining centers.

More and more companies in the industry are starting to mine cryptocurrencies. In January, Galaxy Digital announced the launch of financial services for miners and its own mining, which it has been preparing since the fall of last year.