Ebang went public on a United States stock exchange at a time when U.S. sentiment around Chinese companies is at an all-time low.
Like Canaan, which raised $90 million in its 2019 public listing, Ebang feels the U.S. market offers them the best chance for expansion.
Nasdaq will be making it more difficult for foreign companies, including blockchain firms, to list on its exchange.
The U.S. Senate took steps toward forcing Chinese companies to adhere to transparency rules or risk losing access to U.S. stock exchanges.
Ebang is confident that it can attract as much as $100 million through its IPO, according to its SEC F-1 form.
MicroBT, has managed to increase its market share while industry leader Bitmain struggles with supply chain setbacks and internal strife.
Ebang is following in the footsteps of Bitmain and Canaan and is set to file for an IPO in the U.S. The valuation of the company is yet to be revealed
After taking a huge hit in 2018, cryptocurrency mining has bounced back and the industry is now booming, a report by Token Insight has indicated.
A listed construction firm in China has been exposed as operating a secret crypto mining business, after it was reportedly sold at a heavy discount after substantial losses.
Ebang is said to be on track to produce 400,000 crypto mining units this year, up from the 309,000 mining units sold in the first six months of 2018, according to local reports.