Bitcoin mining chip manufacturer Ebang International Holdings Inc. is looking for to increase approximately $100 million via a going public (IPO) in the UNITED STATE. The Chinese business will certainly market Course An average shares of small worth HK$ 0.001 (US$ 0.00013) per share if its IPO declaring is accepted.
In a declaring with the UNITED STATE Stocks as well as Exchange Payment on Friday, Ebang claimed it plans to note its shares on either the New York Supply Exchange (NYSE) or Nasdaq Global Market, under the ticker icon EBON.
Earnings of the offering will certainly be mostly utilized for the “development and introduction of new mining machines, corporate branding and marketing activities, and expansion of overseas business and new businesses,” the business mentioned.
Established In 2010, Ebang is among the globe’s biggest bitcoin mining tools manufacturers. It makes as well as makes the Ebit line of ASIC chips utilized in bitcoinmining In 2019, Ebit chips represented 82% of the business’s earnings.
The E12 collection mining devices with an ability of a hash price of approximately 50 TH/s as well as a computer power performance of 57 W/TH offered the fastest, complied with by the E10 collection devices.
Nonetheless, as the price of BTC toppled in 2018 as well as component of 2019, Ebang’s revenues lost. Its bottom line broadened to $411 million in 2019 from $118 million a year previously. Its earnings dove 66% to $1091 million in 2015 from $319 million in the previous year.
Sales of chips have actually sagged in addition to the ordinary marketingprice In 2018, Ebang offered 415,930 Ebit chips at $737 typically however the variety of chips offered in 2015 plunged to 289,953 at a standard price of $304
“The price of bitcoin tends to have a direct impact on the market demand for our bitcoin mining machines, in terms of both the price and the quantity, and we expect this trend to continue. Furthermore, the significant drop in the bitcoin price is expected to have a negative effect on the value of our bitcoin mining machine inventory and incentivize us to increase credit sales,” claimed Ebang.
What do you think of Ebang’s UNITED STATE stock exchange listing aspiration? Allow us recognize in the remarks area listed below.
Picture Credit Scores: Shutterstock, Pixabay, Wiki Commons, Ebang
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