Bitmain, Ebang Among 21 Bitcoin Mining Farms Stripped of Energy Perks in Inner Mongolia
Affected mining centers in the area may see a notable increase in electricity costs.
The new venture is expected to increase revenue and "optimize" its product offering structure.
Bitcoin mining equipment maker Ebang announced Thursday it is preparing to officially launch a cryptocurrency exchange in the first quarter of 2021.
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.
The move is part of the bitcoin mining machine producer's plan to build a digital asset financial service platform.
Nasdaq-listed bitcoin miner manufacturer Ebang said the pandemic had disrupted its supply chain and led to a significant drop in revenue.