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.
Daily miner revenue has risen above $3 million this week.
"Miners may be holding in anticipation of a price rally," one analyst said.
Accumulation by miners is analogous to increased promoter holding of corporate stock and is considered a positive.
Miner outflows have slowed since January. The last time this happened, bitcoin went parabolic.
Bitcoin fell sharply early on Monday, having failed to establish a foothold above $40,000 over the weekend.