Mining equipment maker Ebang launches its Bitcoin exchange

Ebang, manufacturer of cryptocurrency mining equipment, announced yesterday, Monday, April 5, the start of operations of a new exchange house named Ebonex. After several months of tests by invitation, the exchange house opens its records.

According to a press announcement, Ebonex.io will sell cryptocurrencies to qualified investors. The company indicates that being registered in various jurisdictions, they are preparing to launch the Ebonex exchange for clients from various parts of the world. According to the Financial Times, Ebonex will have spot and margin exchange rates available (with leverage), and will include the cryptocurrencies Bitcoin, Ethereum, Chainlink, Polkadot, and Litecoin.

Although this new business could expand the investment capabilities of the parent company, Ebang recognizes that it will not necessarily improve the financial performance of the company’s operations.

For this reason, they do not urge their shareholders to trade based on this announcement about their exchange. With the publication of the announcement yesterday Monday, Ebang shares fell 5 percent about its price in the Nasdaq markets.

Ebang International Holdings Inc. was founded in 2010, being one of the oldest companies in the blockchain and cryptocurrency ecosystem. The company is registered on Nasdaq and is represented by the EBON ticker in the US markets, although its headquarters are in Hangzhou, Singapore.

Its line of Ebit miners is already on the e-12 version, launched in 2019, and is still among the most profitable SHA-256 algorithm miners of the moment, according to the AsicMinerValue portal.

As we reported in CriptoNoticias, the announcement of the exchange’s launch last January 2021 sent Ebang shares up 20%. In addition, the company announced in February that it plans to build data centers to mine Bitcoin for itself, as well as to buy hardware parts from other manufacturers for this purpose.