Ebang International Holdings Inc., a cryptocurrency mining manufacturer, announced it has completed the designing of a new chip for simultaneous litecoin (LTC) and dogecoin (DOGE) mining. According to a press release, with the new chip Ebang will be able to develop new type of crypto mining machines "superior to other mining machines currently on the market."
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Ebang Chairman and CEO, Dong Hu, says the new chip is a credit to the company's increased investment in R&D in recent years.
"We believe it will help increase our revenue from the cryptocurrency mining business and optimize our product offering structure along the blockchain industry value chain," Hu added.
It remains unclear, when Ebang is going to roll out a crypto mining machine with the new chip. Previously, Ebang announced plans for public testing of its own cryptocurrency exchange. The official launch of the platform is scheduled for the first quarter of 2021.
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