⛏ Miner maker Ebang reports ‘significant’ profit drop in new IPO filing

Mining hardware maker Ebang has filed a new draft IPO prospectus with the Hong Kong Stock Exchange (HKEX) after letting their initial filing lapse earlier this year. The new filing reveals that Ebang generated 2.1 billion yuan ($304 million) during the first half of 2018, eight times what it made during the same period in 2017, and booked $135 million in profit. Despite the promising numbers from early in the year the company noted that average monthly sales were down significantly during the third quarter without specifically stating the figures.

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