Chinese Maker of Bitcoin Mining Equipment Plans US IPO
Ebang, also known as Ebit Maker, is a manufacturer of hardware used for bitcoin mining equipment and is planning on launching an IPO in the United States, according to a report by News 8BTC.
The report indicates that the company, based in Hangzhou, China, has a 9.2% stake of the worldwide market for bitcoin mining hardware, and is the 3rd biggest producer of bitcoin mining equipment worldwide. Ebang also feels that they now have a better standing in the market and are better prepared to keep up with competitors, Bitmain (Antminer) and Canaan (Avalon) in the country’s bitcoin mining industry.
Ebang had also attempted to go public in Hong Kong last year, but failed, according to the report. Canaan, the 2nd biggest manufacturer of bitcoin mining rigs, has successfully raised $90 million in an IPO, according to the report.