EBON - Ebang International acquires Korean patent license to ramp up bitcoin mining shares +6%

Ebang International Holdings (EBON) has entered into a technology license agreement with Circle Line International to obtain exclusive license of its proprietary patent in Korea.The core of the patent- Korean Patent Reg. No. 10-2137956- is AsicBoost, a method that can increase performance of Bitcoin mining by about 20% through a high-level optimization of the Bitcoin mining algorithm which allows for drastic reduction in gate count on the mining chip.Pursuant to the agreement, Circle Line grants Ebang exclusive right to use the patent in Korea and export the product from Korea to other countries. "The exclusive authorization of this patent reflects our determination to continue to protect the legitimate rights and interests of patent holders and strive to maintain fair market competition, and is expected to lay a solid foundation for the Company’s continuous offering of leading Bitcoin mining machines," says Ebang chairman and CEO Dong Hu.Stock up 5.64% PM."A Bumpy Road For Bitcoin As It Heads For Record

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Ebang International acquires Korean patent license to ramp up bitcoin mining, shares +6%