Nasdaq-listed mining machine maker Ebang (EBON) announced its plans to start mining bitcoins using its devices which can be own.
The business’s board approved intends to run a bitcoin (BTC, +5.59%) mining company involving a combination of deploying its very own devices, devices bought from other manufacturers, and leased computing power off their mining farms per a pr release.
Ebang expects mining to “increase our income in cryptocurrency company and optimize our product offering framework,” CEO Dong Hu stated into the statement.
The organization also intends to build information centers for its mining farms.
The proprietary mining venture could be the expansion that is latest for Ebang. In late 2020, the business announced its intends to introduce a cryptocurrency trade by April 2021 december.
Stocks for the Hangzhou, China-based company are exchanging at $10.38, up 44% this season. But other mining that is public such as for example Canaan (could) have considerably outperformed Ebang with a 205% gain 12 months up to now.