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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.
Bitcoin mining equipment maker Ebang (EBON) announced Thursday the closing of its follow-up public offering.
STORY CONTINUES BELOW
- 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.
See also: Mining Machine Maker Canaan Rises 20% as Bitcoin Reaches a New All-Time High
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
