PlayIconNav
BTC
$98,486.01+4.51%
ETH
$3,377.76+9.78%
SOL
$255.38+7.89%
BNB
$618.49+1.59%
XRP
$1.21+8.28%
DOGE
$0.38203330+0.75%
CD20
$3,136.88+5.82%
ADA
$0.81666531-0.06%
TRX
$0.19717440+0.76%
AVAX
$35.61+5.45%
SHIB
$0.00002461+2.41%
WBTC
$97,444.37+3.80%
Ad
Markets
Election 2024

Bitcoin Mining Machine Maker Ebang to Launch Crypto Exchange in 2021; Shares Rise

Bitcoin mining equipment maker Ebang announced Thursday it is preparing to officially launch a cryptocurrency exchange in the first quarter of 2021.

By Tanzeel Akhtar
AccessTimeIconDec 31, 2020 at 3:20 p.m. UTC
Updated Aug 19, 2021 at 6:26 a.m. UTC
Presented By Icon

Election 2024 coverage presented by

Stand with crypto
shutterstock_753650251

Bitcoin mining equipment maker Ebang (EBON) announced Thursday it is preparing to officially launch a cryptocurrency exchange in the first quarter of 2021.

  • Shares of the Nasdaq-listed mining equipment manufacturer rose on the news, jumping to as high as $6.18 a share before settling down to $5.71 at the time of this writing, up 16%.
  • Ebang said it has started publicly testing its cryptocurrency exchange and will officially launch in the first quarter of 2021.
  • Very little has been revealed about the proposed exchange, except that Ebang has said it will be a regulatory-compliant cryptocurrency exchange that would strictly operate outside of China, where the government has cracked down on trading platforms.
  • Recently Ebang set up a wholly owned subsidiary in Australia as part of its strategy to create a digital asset trading platform.
  • In a statement, Ebang Chairman and CEO Dong Hu said the completion of the internal testing of the cryptocurrency exchange is a step forward in expanding its blockchain financial services business.
  • “We will also explore other business opportunities in the blockchain and cryptocurrency industry such as establishing mining farms and cryptocurrency mining to optimize the structure of our offerings in the blockchain industry value chain,” said Hu.
VolumeMuteUnmute

Guild of Guardians Built to 'Win' the Web2 Mobile Space: Game Director

  • Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
    13:18
    Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
  • Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
    05:10
    Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
  • The first video of the year 2024
    04:07
    The first video of the year 2024
  • The last regression video of the year 3.67.0
    40:07
    The last regression video of the year 3.67.0

    • Read more: Bitcoin Miner Producer Ebang Blames Coronavirus for 50% Slump in Revenue

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.

    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.