Ebang To Establish A Litecoin And Dogecoin Mining Business
Ebang To Establish A Litecoin And Dogecoin Mining Business
February 27, 2021
Ebang To Establish A Litecoin And Dogecoin Mining Business
Ebang To Establish A Litecoin And Dogecoin Mining Business
February 27, 2021

Ebang, the Chinese mining equipment supplier, has planned to establish a Litecoin (LTC) and Dogecoin (DOGE) mining business.

It has been reported that Ebang said it will use some of its own rigs in addition to purchasing some from other crypto mining manufacturers.

However, by “leasing computing powers from other mining farms,” Ebang claimed that it will be able to mine the two tokens simultaneously. 

Dong Hu, the CEO of Ebang, said that the move was part of the company’s transition from a manufacturer of mining equipment to a “diversified and vertically integrated blockchain company.”

He added:

“We will develop LTC and Doge mining on the basis of our Bitcoin mining business. The development of the business will further promote our related cryptocurrency-focused businesses and increase our revenue.”

Likewise, Ebang has been selling its own brand of mining equipment since December 2016. As part of its June 2020 announcement that it would be going public on the Nasdaq Global Market, Ebang said that it would be expanding its services to include crypto mining facilities.

ALSO READ :  Binance To Launch Its Own NFT Platform And Marketplace In June

Last week, the firm announced it would be establishing a Bitcoin (BTC) mining business, and it reportedly plans to launch a cryptocurrency exchange before the end of the first quarter. Like Bitmain, MicroBT, and Canaan, Ebang is considered one of the largest mining equipment makers globally.

Thus, it is also planning to expand its services to New Zealand by purchasing a local financial firm and setting up a digital asset platform.

Source: Cointelegraph


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Coinbase Active Users Increase By 120%

Coinbase Active Users Increase By 120%

The active users of Coinbase, the major cryptocurrency exchange, have increased by 120%, while trade volumes tripled. It has been reported according to documents filed with the US Securities and Exchange...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.