One of the largest bitcoin (EXANTE: Bitcoin) mining manufacturers in the world Ebang International has filed for a $100 million initial public offering (IPO) in the United States.
According to an F-1 form filed with the U.S. Securities and Exchange Commission (SEC), the manufacturer wants to unload Class A ordinary shares with a par value of $0.00013 US dollars per share.
"Leveraging our deep understanding of the cryptocurrency industry and strong blockchain technology as applied to ASIC chip design, we strive to expand into the upstream and downstream markets of the blockchain and cryptocurrency industry value chain to diversify our offerings and achieve a more stable financial performance," the company wrote in the filing.
The China-based company expects to list shares on the New York Stock Exchange (NYSE) or Nasdaq Global Market under the "EBON" ticker.
The Hong Kong company AMTD Global Markets Limited and the American company Loop Capital Markets LLC are included in the list as joint insurers for the Ebang IPO.
In 2019, the company had over $109 million of revenue and net losses of $41.1 million.
Last year, the other Chinese crypto-mining device maker Canaan attracted a total of $90 million during its IPO on NASDAQ. The company sold approximately 10 million shares at a price of $9.
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