Mining machine manufacturer Ebang International will launch Bitcoin mining and related businesses

According to BlockBeats, on February 18, EBON, a Nasdaq-listed Bitcoin mining machine manufacturer, announced plans to start using its own mining machines for Bitcoin mining activities.

It is understood that the company's board of directors approved plans to operate a Bitcoin mining business, including deploying its own mining machines, machines purchased from other manufacturers, and renting computing power from other mining farms. Ebang CEO Hu Dong said in the statement that mining is expected to "increase our revenue from the cryptocurrency business and optimize our product offering structure."

The company also plans to build a data center for its mining farm. According to previous reports by Lvdong, Ebang International has announced plans to launch a cryptocurrency trading platform by April 2021. Ebang International said that the newly launched trading platform will comply with regulatory requirements and operate overseas.

Currently, Ebang International's stock price is $10.38, up 44% this year. However, compared with its competitors, such as Canaan Creative (CAN), which has increased by 205% this year, Ebang is still at a disadvantage.