Main Chinese language Bitcoin (BTC) mining tools maker Ebang, which is reportedly getting listed on Nasdaq World Market later in the present day, is planning to broaden its enterprise by organising a cryptocurrency change and mining farms.
As advised to Cointelegraph by an Ebang consultant in a latest interview, the corporate intends to carve out a singular function within the trade by constructing “a world blockchain and a digital financial system industrial ecosystem.” That would come with organising a cryptocurrency change and mining amenities, the spokesperson elaborated:
“We are going to quickly set up our personal mining farms with [a] versatile cooperation mannequin […] in addition to mining swimming pools to promote our computing energy and we will even begin to arrange [a] cryptocurrencies buying and selling change.”
Moreover, the Hangzhou-based firm will “discover the applying of blockchain know-how into monetary providers, schooling and healthcare industries.”
Getting listed on Nasdaq will assist the crypto agency to pursue these plans, the Ebang consultant added, since it’ll supposedly improve its model consciousness and “appeal to extra expertise.” Being a publicly traded firm might additionally assist organising a cryptocurrency change:
“Credit score is crucial level for establishing the cryptocurrencies buying and selling change, and a Nasdaq listed firm regulated by U.S. Securities and Change Fee ought to have the ability to strictly management the compliance and security of the transaction.”
Such plans are additionally documented in filings the corporate submitted to the SEC, the place it described setting a cryptocurrency change “in abroad jurisdictions.” Though Ebang relies in China, the place cryptocurrency commerce is outlawed, its holding firm is included within the Cayman Islands.
The $125 million IPO is about to begin
As previously reported by Cointelegraph, Ebang is predicted to get listed on Nasdaq World Market underneath the ticker EBON later in the present day, on June 26. If the inventory change launch goes by, it’ll turn into the second crypto mining firm to go public in the US after its competitor, fellow China-based agency Canaan.
Ebang goals to boost as much as $125 million, which might put its market worth near $800 million.
— to cointelegraph.com