Share this article
Mining Machine Manufacturer Ebang to Start Mining Bitcoins for Itself
The new venture is expected to increase revenue and "optimize" its product offering structure.
By Zack Voell
Updated Dec 12, 2022, 1:52 p.m. Published Feb 17, 2021, 8:48 p.m.
Nasdaq-listed mining machine manufacturer Ebanghttps://hashrateindex.com/stocks/ebon (EBON) announced its plans to start mining bitcoins using its own machines.
- Per a press release, the company's board approved plans to operate a bitcoin mining business involving a combination of deploying its own machines, machines bought from other manufacturers, and leased computing power from other mining farms.
- Ebang expects mining to "increase our revenue in cryptocurrency business and optimize our product offering structure," CEO Dong Hu said in the statement.
- The company also plans to build data centers for its mining farms.
- The proprietary mining venture is the latest expansion for Ebang. In late December 2020, the company announced its plans to launch a cryptocurrency exchange by April 2021.
- Shares of the Hangzhou, China-based company are trading at $10.38, up 44% this year. But other public mining manufacturers such as Canaanhttps://hashrateindex.com/stocks/can (CAN) have significantly outperformed Ebang with a 205% gain year to date.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Digital yuan holdings to earn interest under China's new framework
The new framework due Jan. 1 will let banks pay interest on clients' e-CNY holdings.
What to know:
- The People's Bank of China will implement a new digital yuan framework on Jan. 1, allowing commercial banks to pay interest on digital currency holdings.
- The digital yuan will transition from digital cash to digital deposit money.
- An international digital yuan operations center is proposed for Shanghai, aiming to enhance the currency's global reach.
Top Stories
