Ebang dives into block reward mining enterprise

Nasdaq-listed blockchain tools producer Ebang Worldwide Holdings Inc. (NASDAQ: EBON) has introduced plans to make use of its personal machine to mine digital currencies.

Per a number of press releases, the corporate’s board of administrators handed resolutions approving its foray into BTC, Dogecoin, and Litecoin block reward mining enterprise. 

Apart from utilizing its personal mining machines, Ebang plans to make use of mining machines bought from different producers and leasing computing powers from different mining farms. The corporate introduced it might spend money on constructing its personal knowledge heart to assist block reward mining actions.

In a press release, Ebang Chairman and CEO Dong Hu stated he expects mining will “improve our income within the cryptocurrency enterprise and optimize our product providing construction.” 

Hu desires to rework Ebang right into a blockchain firm with a diversified and vertically built-in providing with “complete involvements within the blockchain trade worth chain” past solely {hardware} manufacturing. 

Ebang will construct its LTC and DOGE mining enterprise on prime of its BTC mining enterprise. The corporate has introduced no timeline or fastened schedule. They warning shareholders to not place undue reliance on the press bulletins. There is no such thing as a assure that the block reward mining enterprise will launch as proposed or in any respect.

The bulletins got here a number of weeks after Ebang efficiently designed a microchip for simultaneous Litecoin and Dogecoin mining. They intend this new design to permit an improve to the digital forex machines at present out there. 

Ebang additionally plans to deal with creating extra mainstream blockchain mining machines appropriate with a number of digital currencies, with the aim being to optimize its product providing construction alongside the blockchain trade worth chain.

“The completion of the designing is a credit score to our elevated funding in R&D in recent times. We now have made great efforts to construct up our R&D workforce and speed up product iteration and innovation,” Hu stated.

See additionally: TAAL’s Jerry Chan presentation at CoinGeek Reside, The Shift from Bitcoin “Miners” to “Transaction Processors”

New to Bitcoin? Try CoinGeek’s Bitcoin for Rookies part, the last word useful resource information to be taught extra about Bitcoin—as initially envisioned by Satoshi Nakamoto—and blockchain.

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