Bitcoin Mining Hardware Manufacturer Ebang to Start Trading in Nasdaq Global Market Today
Top Chinese Bitcoin (BTC) mining hardware manufacturer Ebang, which will get listed on Nasdaq Global Market today, intends to widen its business by establishing a crypto exchange and mining farm.
The company aims to forge out an unparalleled role in the blockchain sector by creating a “a global blockchain and a digital economy industrial ecosystem.”
That involves establishing a crypto exchange and mining capabilities, the spokesperson detailed:
“We will soon establish our own mining farms with [a] flexible cooperation model […] as well as mining pools to sell our computing power and we will also start to set up [a] cryptocurrencies trading exchange.”
Furthermore, the Hangzhou-headquartered firm will “explore the application of blockchain technology into financial services, education and healthcare industries.”
The crypto firm believes that it will be able to achieve its objective by getting listed on Nasdaq as it will considerably improve its brand awareness and “attract more talent.”
The firm can also easily establish a crypto exchange with the reputation of a publicly traded firm.
“Credit is the most important point for establishing the cryptocurrencies trading exchange, and a Nasdaq listed company regulated by US Securities and Exchange Commission should be able to strictly control the compliance and safety of the transaction.”
Such ideas are also recorded in filing submitted by the company with the SEC, where it explained the establishment of a crypto exchange “in overseas jurisdictions.”
Even though Ebang is headquartered in China, where crypto trade is not legal, its holding firm is registered in the Cayman Islands.
Today, Ebang, represented by ticker EBON, will get listed on Nasdaq Global Market. If the listing happens as planned, it will be the second cryptocurrency miner to successfully go public in the US after Canaan, its competitor and fellow Chinese company.
Ebang intends to raise a maximum of $125 million, which could boost its market value to about $800 million.