EBON - Ebang International gains 17% on plans to launch LTC and Dogecoin mining business
Ebang International (EBON) jumps up 17% after the blockchain technology company said its board has passed a resolution to launch a Litecoin (LCC-USD) and Dogecoin (DOGE-USD) mining business.The company plans to deploy its self-manufactured mining machines and machines purchased from other manufacturers as well as leasing computing powers from other mining farms to mine LTC and Doge simultaneously."The development of the Business will further promote our related cryptocurrency-focused businesses and increase our revenue. We believe this move will accelerate the Company's transformation from solely a hardware manufacturer to a diversified and vertically integrated blockchain company with comprehensive involvements in the blockchain industry value chain," says Chairman and CEO Dong Hu.However, the company clarifies that there is "no guarantee that such business operation will improve the its financial performance."Earlier today, Coinbase files for public listing after earning $322M last yearEarlier, Another famous fund manager explains why he's bullish on Bitcoin
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Ebang International gains 17% on plans to launch LTC and Dogecoin mining business