Chinese cryptocurrency mining hardware manufacturer, Ebang International, announced it has decided to launch a Litecoin and Dogecoin mining business. According to a press release, the Hangzhou-based company plans to purchase a combination of deploying self-manufactured mining machines to mine LTC and DOGE simultaneously.
Ebang CEO, Dong Hu, says the company will develop LTC and DOGE infrastructure on the basis of its current bitcoin (EXANTE: Bitcoin) mining business.
"The development of the business will further promote our related cryptocurrency-focused businesses and increase our revenue," the Ebang CEO added.
However, Ebang admits "there is no guarantee" that the company's operation of LTC and DOGE mining business will its financial performance. Previously, Ebang announced it had completed the designing of a new chip for simultaneous LTC and DOGE mining.
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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