Bitcoin Miner Ebang Closes $70M Follow-Up Public Offering

The proceeds will be used primarily for research, development, production and sale of equipment and expanding its mining business through the establishment and operation of crypto mining farms.

Feb 18, 2021 at 9:41 p.m. UTC
Updated Sep 14, 2021 at 12:13 p.m. UTC

Bitcoin mining equipment maker Ebang (EBON) announced Thursday the closing of its follow-up public offering.

  • Institutional investors have agreed to purchase 14 million units at $5 per share, according to Ebang's announcement. Each unit consists of one Class A ordinary share and one warrant to purchase one-half of one Class A ordinary share.
  • The proceeds will be used primarily for research, development, production and sale of equipment and expanding its mining business through the establishment and operation of crypto mining farms.
  • Hangzhou, China-based Ebang has also previously announced its intentions to launch a cryptocurrency exchange in the first quarter of this year.
  • Ebang's shares closed up 7.73% at $11.29 on the Nasdaq Thursday.
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

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

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
We Need to Talk About Exchanges That Sell You Coins Like UST

How much responsibility should they have, legally and morally, for projects that fail spectacularly?

How much responsibility should they have, legally and morally, for projects that fail spectacularly?

CoinDesk - Unknown
2
CoinDesk - Unknown
Terra lanzaría su nueva blockchain el sábado, seguida del airdrop de LUNA

Serán las primeras acciones de un plan más amplio para ayudar a revivir el ecosistema Terra y sus tokens.

Serán las primeras acciones de un plan más amplio para ayudar a revivir el ecosistema Terra y sus tokens.

CoinDesk - Unknown
3
CoinDesk - Unknown
The Quantum Revolution That Will Change Everything

Blockchains need to start migrating to new quantum-proof systems now otherwise they’ll be rendered worthless.

Blockchains need to start migrating to new quantum-proof systems now otherwise they’ll be rendered worthless.

CoinDesk - Unknown
4
CoinDesk - Unknown
Tether Expands With Introduction of Dollar-Pegged Stablecoin on Polygon

Tether is now available on over 11 blockchain networks.

Tether is now available on over 11 blockchain networks.

CoinDesk - Unknown