Mining machine manufacturer Ebang International is going public in the U.S. and may raise $100 million

According to NASDAQ, cryptocurrency mining machine manufacturer Ebang International submitted a prospectus to the U.S. Securities and Exchange Commission (SEC) on the 24th, hoping to raise up to US$100 million through an IPO.

It is reported that EBON International plans to be listed on the New York Stock Exchange or Nasdaq with the stock code EBON. EBON International submitted confidential documents on February 14, 2020. AMTD Global Markets and Loop Capital Markets are the joint book-running managers of the IPO. The two parties have not disclosed any pricing terms.

Founded in 2010, Ebang International is currently focusing on the research and development of proprietary 5nm ASIC chips and mining machines, and has attempted to list on the Hong Kong Stock Exchange twice. Ebang International's revenue in 2018 and 2019 was US$319 million and US$109 million, respectively, and its net losses were US$11.8 million and US$41.1 million, respectively; sales of Bitcoin mining machines and related accessories accounted for 96.3% and 82.4% of total revenue, respectively.