Nasdaq-listed ASIC Manufacturer Ebang to Start Mining Dogecoin and Litecoin

News
Thu, 02/25/2021 - 14:43
article image
Alex Dovbnya
ASIC manufacturer Ebang to launch Dogecoin and Litecoin mining in an attempt to diversify its business
Nasdaq-listed ASIC Manufacturer Ebang to Start Mining Dogecoin and Litecoin
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Major cryptocurrency mining hardware manufacturer Ebang is set to start mining Dogecoin (DOGE) and Litecoin (LTC), according to its Feb. 25 press release.

The company has passed a respective resolution during today's board meeting.

This comes after Ebang announced its foray into Bitcoin mining last week.

Related
Reality Check: Top Mining Companies Are Going Public to Raise Billions, But Are They Worth Them?
CEO Dong Hu says that the move will help to transform the company into a diversified blockchain business.

We will develop LTC and Doge mining on the basis of our Bitcoin mining business. 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.

The shares of Ebang International Holdings (EBON) are up 12 percent in pre-market trading.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

thecryptobuds