Bitcoin mining gear maker Ebang (EBON) announced Thursday the closing of its follow-up providing that is public.

Institutional investors have consented to buy 14 million devices at $5 per share, in accordance with Ebang’s statement. Each unit contains one course A ordinary share plus one warrant to get one-half of one course a share that is ordinary.

The proceeds will primarily be properly used for research, development, production and purchase of equipment and expanding its mining company through the establishment and procedure of crypto mining farms.

Hangzhou, China-based Ebang has additionally previously announced its intentions to launch a cryptocurrency exchange in the first quarter of the 12 months.
Thursday Ebang’s stocks shut up 7.73% at $11.29 on the Nasdaq.