Difference between revisions of "Ebang"

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== Overview ==
 
== Overview ==
Ebang is one of a handful of highly competitive Chinese "fabless" producers of dedicated bitcoin mining technology. ("Fabless" refers to fabrication-less producers that design key components and assemble, sell and distribute the computers. Ebang, like its competitors Bitmain and Canaan Creative design application-specific integrated circuits for bitcoin mining.  
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Ebang is one of a handful of highly competitive Chinese "fabless" producers of dedicated bitcoin mining technology. ("Fabless" refers to fabrication-less producers that design key components and assemble, sell and distribute the computers. Ebang, like its competitors [[Bitmain]] and [[Canaan Creative]], designs application-specific integrated circuits for bitcoin mining.
  
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Seeking to raise between $86 and $125 million in an [http://www.marketswiki.com/wiki/IPO IPO] on [http://www.marketswiki.com/wiki/Nasdaq Nasdaq], Ebang filed an equities registration statement with the U.S. [[Securities and Exchange Commission]] in April 2020. The launch of trading in the new shares is scheduled to take place on June 26. Prospects for the IPO are uncertain since Ebang has not been profitable since 2018, although its revenues in Q1 2020 were healthy at $6.4 million.<ref>{{cite web|url=https://www.coindesk.com/bitcoin-miner-maker-ebang-2-5m-q1-loss-us-ipo-sec|name=Bitcoin Miner Maker Ebang Estimates $2.5M Loss for Q1 in IPO Prospectus Update|org=CoinDesk|date=June 23, 2020}}</ref>
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Ebang's IPO will be the second one of a Chinese bitcoin ASICs company, after Canaan Creative's November 2019 listing on Nasdaq.
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== Background ==
 
== Background ==
  
Ebang was originally called the Zhejiang Ebang Communication Technology Company when it was founded in 2010. Starting in  
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Ebang was originally called the Zhejiang Ebang Communication Technology Company when it was founded in 2010. Starting in early 2014, the company became interested in blockchain applications and bitcoin mining technology. In 2016 Ebang grew by acquiring  51.05% of the equity interest in Hangzhou Dewang Information Technology Co., Ltd., which it continues to operate as Hangzhou Dewang. In 2018, focusing more on bitcoin mining applications, Ebang adopted its current formal name, Ebang Holdings.<ref>{{cite web|url=https://www.sec.gov/Archives/edgar/data/1799290/000121390020010071/ea121021-f1_ebanginter.htm|name=Form 1 Registration Statement|org=U.S. Securities and Exchange Commission|date=June 23, 2020}}</ref>
In January 2010, Mr. Dong Hu, our chairman of board of directors and chief executive officer, founded Zhejiang Ebang Communication Technology Co., Ltd., or Zhejiang Ebang, which established Zhejiang Ebang Information Technology Co., Ltd., or Ebang IT, to conduct development and sales of communications network access devices and related equipment. In early 2014, in view of the burgeoning opportunities in the blockchain industry, we began to conduct research and feasibility studies on the blockchain business and develop blockchain computing equipment. In August 2015, Zhejiang Ebang was listed on the National Equities Exchange and Quotations Co., Ltd., or the NEEQ. In August 2016, we acquired 51.05% of the equity interest in Hangzhou Dewang Information Technology Co., Ltd., or Hangzhou Dewang, through our capital injection in Hangzhou Dewang. In March 2018, Zhejiang Ebang was delisted from the NEEQ in preparation for the reorganization.
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== References ==

Latest revision as of 13:51, 23 June 2020


Ebang
Ebang logo.png
Founded 2010
Headquarters Hangzhou, Zhejiang, People’s Republic of China
Key People Dong Hu
Employees 240
Products ASICs-based bitcoin miners
LinkedIn Profile
Website Ebang
Releases Company News

Ebang is a Chinese designer and distributor of bitcoin mining machines. Its brands are EBIT miners.

Overview

Ebang is one of a handful of highly competitive Chinese "fabless" producers of dedicated bitcoin mining technology. ("Fabless" refers to fabrication-less producers that design key components and assemble, sell and distribute the computers. Ebang, like its competitors Bitmain and Canaan Creative, designs application-specific integrated circuits for bitcoin mining.

Seeking to raise between $86 and $125 million in an IPO on Nasdaq, Ebang filed an equities registration statement with the U.S. Securities and Exchange Commission in April 2020. The launch of trading in the new shares is scheduled to take place on June 26. Prospects for the IPO are uncertain since Ebang has not been profitable since 2018, although its revenues in Q1 2020 were healthy at $6.4 million.[1]

Ebang's IPO will be the second one of a Chinese bitcoin ASICs company, after Canaan Creative's November 2019 listing on Nasdaq.

Background

Ebang was originally called the Zhejiang Ebang Communication Technology Company when it was founded in 2010. Starting in early 2014, the company became interested in blockchain applications and bitcoin mining technology. In 2016 Ebang grew by acquiring 51.05% of the equity interest in Hangzhou Dewang Information Technology Co., Ltd., which it continues to operate as Hangzhou Dewang. In 2018, focusing more on bitcoin mining applications, Ebang adopted its current formal name, Ebang Holdings.[2]

References