Bitcoin Miner Producer Ebang Blames Coronavirus for 50% Slump in Revenue
Nasdaq-listed bitcoin miner manufacturer Ebang said the pandemic had disrupted its supply chain and led to a significant drop in revenue.
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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....
Cryptocurrency miner supplier Ebang has officially launched its own crypto exchange after an invite-only beta phase earlier this year. Ebang, a publicly-listed company providing mining hardware for cryptocurrencies like Bitcoin (BTC), has officially announced the launch of its own crypto exchange.According to an announcement on Monday, qualified investors will be soon able to register and trade on Ebang’s cryptocurrency exchange dubbed Ebonex.Ebang CEO and chairman Dong Hu said, “In recent years we have made a considerable investment in R&D talent recruiting, as well as product innovation....
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....
The move is part of the bitcoin mining machine producer's plan to build a digital asset financial service platform.
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....