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.
Great news! Do you own #Dogecoin #dogearmy#DogecoinToTheMoon#DogecoinRisehttps://t.co/XWmG2f9jsS — Doge4LifeClub (@ChetAndrewGrant) February 27, 2021
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.
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