Ebang refutes Bitcoin ‘China Hustle’ claims as share price falls 20%
A NASDAQ traded Chinese Bitcoin mining firm has seen its shares fall 20% after a damning short report unveiled some alleged dodgy dealings. The share price of Chinese Bitcoin (BTC) mining company Ebang continues to fall, while the firm refutes claims made in a Hindenburg Research report which alleged it was pilfering American investors’ cash.The Hindenburg Research report, published April 6, described Ebang as “simply the latest chapter in the ‘China Hustle’ disguised as a Bitcoin mining play.” The report alleges that Ebang raised hundreds of millions of dollars through public offerings in....
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The publicly-listed bitcoin mining rig manufacturer Ebang has announced the completion of a new 6nm ASIC mining chip. Ebang believes the next-generation mining chip will give the firm’s ASIC products a “competitive edge” in the ambitious bitcoin mining industry. Mass Production of 6nm Chips to Begin When Market Conditions Become Suitable During the last few weeks, Bitcoin’s hashrate has been climbing to new heights as the network tapped 190 exahash per second on March 22, 2021. The price of bitcoin (BTC) has also helped propel bitcoin mining profits, but improved....
The Nasdaq-listed company is moving ahead with its ambitious expansion plan. Ebang, a major Chinese Bitcoin (BTC) mining equipment supplier, is planning to acquire a financial firm in New Zealand to set up a local digital asset financial service platform.According to an official announcement on Oct. 14, Ebang International Holdings has entered an Expression of Interest tender letter to acquire a 100% share of an unnamed company. The New Zealand-based firm offers wholesale and generic financial brokerage and wealth management services, the announcement notes.Ebang representatives emphasized....
Nasdaq-listed bitcoin miner manufacturer Ebang said the pandemic had disrupted its supply chain and led to a significant drop in revenue.
Ebang International Holdings Inc., the Chinese maker of bitcoin mining hardware, reported a net loss of $6.96 million during the first six months of this year, down from $19.07 million a year ago, as demand fell due to the coronavirus pandemic. Revenue plunged 51% to $11.04 million from $22.35 million previously, said the company in an earnings release shared with news.Bitcoin.com. For the half-year, the Nasdaq-listed Ebang sold a total 0.25 million terahash per second (TH/s) of Bitcoin hashpower. The figure represents a year-over-year decline of 86% from 1.82 million TH/s sold in the same....
The mining equipment manufacturer announced its intention to expand into mining when it went public last year. According to an announcement from Chinese mining equipment supplier Ebang, the mining firm’s board passed a resolution on Thursday to establish a Litecoin (LTC) and Dogecoin (DOGE) mining business. Ebang said it will use some of its own rigs in addition to purchasing some from other crypto mining manufacturers. By “leasing computing powers from other mining farms,” Ebang claimed it will be able to mine the two tokens simultaneously. CEO Dong Hu said the move was part of the....