One of the world’s largest bitcoin mining machine makers is looking to list its shares in the U.S.
According to The Block, Ebang International has formally filed for a U.S. IPO.
The Zhejiang, China-based company is looking to raise $100 million either on the Nasdaq or the NYSE and is hoping to list its shares under the symbol “EBON.”
The shares will be Class A ordinary shares – with a face value of $0.00013 per share – and the IPO will be co-underwritten by Hong Kong-based AMTD Global Markets Limited and Chicago-headquartered Loop Capital Markets.
This is not the first time the company attempted to go public. Ebang filed to list in Hong Kong back in 2018 hoping to raise $1 billion. Obviously, that plan did not materialize.
The move also comes after one of its rivals went public in the U.S.:
Ebang rival Canaan Creative, also based in China, went public in the U.S. last year. It raised $90 million (compared to a targeted amount of $400 million) by listing its shares on Nasdaq in November. But Canaan’s shares have taken a beating and are down by around 53% since its listing.