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Mining machine manufacturer Ebon International will launch Bitcoin mining and related businesses

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The business scope includes the deployment of Ebang mining machines, the purchase of machinery from other manufacturers, and the leasing of computing power from other mines

Nasdaq-listed Ebon International (EBON), a maker of bitcoin mining machines, announced on February 18 that it plans to start mining bitcoin using its own mining machines.

It is understood that the company's board approved plans to operate a bitcoin mining business, including deploying its own mining machines, buying machines from other manufacturers and renting computing power from other mines. Ebon CEO Dong Hu said in a statement that the mining is expected to "increase our revenue from cryptocurrency business and optimize our product offering structure."

The company also plans to build data centres for its mines. Ebon International had announced plans to launch a cryptocurrency trading platform by April 2021, as previously reported by Legally. Ebon said the new trading platform would comply with regulations and operate outside China.

Ebon's shares are now trading at $10.38, up 44% so far this year. But Ebon is still a significant underdog compared with the 205% growth this year of rivals such as Canon Intelligence.