Caixin
Jun 26, 2018 06:24 PM
FINANCE

Bitcoin Equipment Firm Ebang Joins IPO Rush

Chinese manufacturers of bitcoin mining equipment are hungry for capital to fund their growth as the heightened interest in cryptocurrencies has led to a surge in demand for their machines. Photo: VCG
Chinese manufacturers of bitcoin mining equipment are hungry for capital to fund their growth as the heightened interest in cryptocurrencies has led to a surge in demand for their machines. Photo: VCG

* Zhejian Ebang Communication Technology Co. Ltd. hopes to raise $1 billion

* Company accounts for 10.9% of the global bitcoin mining market in terms of computing power sold

(Beijing) — China’s third-largest manufacturer of cryptocurrency mining equipment, Zhejiang Ebang Communication Technology Co. Ltd., has applied for an initial public offering (IPO) on the Hong Kong Stock Exchange, just over a month after competitor Canaan Creative filed its listing application.

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