The board of directors of Ebang International Holdings has decided to launch a mining business for Litecoin and Dogecoin, the company said in a press release.
Under the resolution, the company will deploy mining equipment from both its own production and from other manufacturers.
“We will develop Litecoin and Dogecoin mining based on our Bitcoin mining business. This contributes to the further development of the company’s cryptocurrency-focused activities and to increasing revenues,” said Dun Hu, chairman and CEO of Ebang.
In June 2020, ahead of its Nasdaq IPO, the Chinese mining equipment maker announced its intention to begin mining cryptocurrencies.
In February 2020, Ebang announced the launch of a Bitcoin mining venture. The company raised $70 million through a follow-on public offering. The funds are planned to be directed toward developing its digital asset mining business.
As part of expanding its blockchain activities, Ebang plans to launch a cryptocurrency exchange in the first quarter.
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