Ebang International will produce 400,000 Bitcoin mining machines in 2019

According to Bitcoin Magazine, Ebang announced on February 22, 2019 that it plans to produce 400,000 Bitcoin mining machines in 2019. Ebang is the third largest cryptocurrency mining machine manufacturer, and industry insiders infer that in the face of the current situation, Ebang has a great chance of finding a breakthrough in the mining industry.

Recently, Bitmain and Canaan Creative have been keeping a low profile. Bitmain invested heavily in Bitcoin Cash last year and divested its Bitcoin holdings, but BCH fell sharply in the bear market.

In addition, Bitmain has been plagued by a lot of negative news. In addition to a series of layoffs in late December, there were reports that Bitmain lost $500 million in the third quarter of 2018. But Bitmain told Bitcoin Magazine that "the rumors are false."

In such uncertain market conditions, Ebang decided to take a gamble. According to Ebang’s own data, the company produced 159,000 mining machines in 2017 and more than 309,000 in the first half of 2018. Ebang said that their “revenue and gross profit for the three months ending September 2018 dropped significantly compared to the first three months ending June 30, 2018, despite this, the planned production for 2019 has been increased to 400,000 units.

In the face of the current sluggish mining market, what can keep the mining industry going is to reduce costs and increase mining revenue. This task largely falls on manufacturers' control of hardware costs. On this basis, mine owners can find ways to make profits by controlling lower operation and maintenance costs.

At present, the most favorable thing for the mining industry is that the market conditions in early 2019 have eased slightly, and the chip energy consumption on the supply chain side has also decreased with the development of industrial technology. As a field with traditional industry characteristics in the cryptocurrency industry, the mining industry has stronger vitality.