Chinese mining equipment maker Ebang will begin mining bitcoin using its own ASIC miners and leasing computing power from other farms.
According to a press release, the company's board has approved a plan to launch bitcoin mining operations, including deploying its own ASIC miners, using equipment purchased from other manufacturers and leasing computing power from other mining farms.
According to Ebang CEO Dong Hu, the company expects that mining "will increase revenues 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 listed on the Nasdaq stock exchange last June 26. The company was able to sell 19.3 million shares and raise about $101 million. In addition, in the summer of 2020, Ebang first announced plans to set up 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 had been preparing since last fall.