Ebang International launches US stock listing: formally submits prospectus, or becomes the second listed mining machine company

Wu said the blockchain exclusively learned that Ebang International, the main body of Yibit Mining Machine, has officially submitted a prospectus, opening the road to listing on the US stock market.

According to the prospectus, Yibang International’s revenue in 2018 and 2019 was US$319.0 million and US$109.1 million, respectively. Gross profit was $24.4 million in 2018 and gross loss was $30.6 million in 2019. Net losses in 2018 and 2019 were $11.8 million and $41.1 million, respectively.

In terms of revenue distribution, in 2018 and 2019, sales of Ebang Bitcoin mining machines and related accessories accounted for 96.3% and 82.4% of revenue, respectively. Revenue from providing mining machine hosting services accounted for 2.4% and 14.4% of revenue in 2018 and 2019, respectively.

In terms of customers, in 2018 and 2019, Ebang’s sales to Chinese customers accounted for 91.4% and 87.5% of the total revenue, respectively, and sales to customers outside China such as North America, Central Asia and Southeast Asia accounted for 8.6% and 8.6% respectively. 12.5%.

In 2019, Ebang had the largest purchases of ASIC chips from Samsung and other direct purchases from Samsung, accounting for 43.8% of the total purchases of raw materials and subcontracting services for production purposes.

In 2019, Ebang had the largest purchases of ASIC chips from Samsung and other direct purchases from Samsung, accounting for 43.8% of the total purchases of raw materials and subcontracting services for production purposes.

Yibang International is likely to become the second listed mining machine company. Canaan, the first listed mining machine company, went public in the United States in the fourth quarter of last year.

Ebang International believes that it has certain advantages in technology and has completed the design of 8nm ASIC chips and 7nm ASIC chips. It is currently focusing on the development of proprietary 5nm ASIC chips and mining machines for non-bitcoin cryptocurrencies, such as Wright Coin and Monero. The future is ready to start with the mining business of cryptocurrencies and explore the application of blockchain technology to non-cryptocurrency industries, such as financial services and healthcare industries.