Bitcoin mining chip maker Ebang plans to place up crypto exchange after Nasdaq itemizing
Ebang shall be providing 19.three million shares priced between $4.50 and $6.50 share in its IPO.
China-based Bitcoin mining chip producer Zhejiang Ebang Communication generally known as Ebang, shall be itemizing to the Nasdaq International Market later in the present day. Nonetheless, the agency already revealed large enlargement plans after its itemizing, which incorporates placing up a cryptocurrency exchange and mining farms.
A consultant of the corporate informed Fintech Zoom that the agency plans to construct “a global blockchain and a digital economy industrial ecosystem.” This ecosystem would come with the mining amenities and new cryptocurrency exchange.
“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,” the unnamed Ebang consultant defined.
The consultant additionally revealed plans to “explore the application of blockchain technology into financial services, education, and healthcare industries.” A technique that might assist Ebang materialize these plans is its Nasdaq itemizing by enhancing consciousness of its model and attracting prime expertise.
Being a publicly-traded agency will even assist it notice its plans of placing up its personal crypto exchange within the U.S. “Credit is the most important point for establishing the cryptocurrencies trading exchange, and a Nasdaq listed company regulated by U.S. Securities and Exchange Commission should be able to strictly control the compliance and safety of the transaction,” the consultant added.
Citing varied sources, Ebang will reportedly be listed on Nasdaq on June 26, in response to Fintech Zoom. The agency will be a part of the bourse beneath the ticker image EBON.
The agency’s IPO would be the second ASIC mining producer to have an preliminary public providing within the U.S. The primary one is Canaan which was capable of increase $90 million after it efficiently bought 10,000,000 shares for $9 every.
For its Nasdaq debut, Ebang Worldwide Holdings has 19.three million shares obtainable for its preliminary public providing. The agency plans to promote the shares between $4.50 and $6.50 per share. Market valuation for the agency is estimated to be round $721 million.
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