Bitcoin Mining Giant Ebang Comes With New E11 And E11+ Devices, Plans for IPO

News and Analysis

Mining equipment manufacturer Ebang International has announced release of new E11 and E11+ miners with rumors circulating that these new devices may outdo all existing alternatives in terms of performance. At least this is what  Blockstream CSO Samson Mow says.

Mow noted that while both Bitmain and Ebang are filing for an IPO on the Hong Kong Stock Exchange, only the latter had released new products. Blockstream CSO also praised Bitmain’s competitor for not having a stake in Bitcoin Cash.

Apart from Bitmain and Ebang, Canaan Inc., another major Chinese mining hardware manufacturer, is filing for an IPO in Hong Kong as well,  hoping to raise at least $400 million. Concerns about the future of the market have meant that the firm has reduced its initial target figure of $2 billion.

As reported by Reuters, Canaan chips accounted for around 14% of the entire Bitcoin mining market last year, while Bitmain had three quarters of the market.

Meanwhile, Ebang International is aiming to raise as much as $1 billion. Its offering is thought to be ready for consideration by the listing committee in September.

Canaan and Ebang filed plans in May and June respectively, while Bitmain is expected to file its plans next month for a public offering in which it aims to raise at least US$3bn, sources close to the deal said.

As previously reported by ForkLog, Chinese conglomerate Tencent, Japanese SoftBank, and investment firm DST Global all denied investing in Bitmain, raising questions about the mining giant’s real value.

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