ASIC miner manufacturer Ebang to start mining LTC and DOGE – Bits Media

Manufacturer of mining equipment EBANG, which is engaged in prey bitcoin, plans to expand mining operations on Litecoin (LTC) и DOGECOIN (DOGE).

For the extraction of these cryptocurrencies, it is planned to be used as their own, and third -party equipment. When both coins will be obtained at the same time - both of them are based on the SCRYPT hash. According to EBang CEO Duna Hu (Dong Hu), The company is gradually changing the business strategy from the production of equipment to the direct production of cryptocurrencies. LTC and DOGE mining fits into a new business paradigm.

“We will mine LTC and DOGE based on an existing site for mining bitcoin. The initiative will help the further development of our cryptocurrency business and increase our income ”, - emphasized Dun Hu.

EBang is moving away from the production of mining equipment - last fall was reported, that the company's revenue for the first half 2020 the year reduced due to the epidemic of coronavirus. The company announced the plans for launching its own cryptocurrency exchange and mining cryptocurrencies back in the middle of last year.

Previously, Bitfury conducted a similar change in the direction of activity. One of the main developers of the ASIC Mainers in 2013-2015 years, Bitfury later reoriented to develop corporate solutions based on its own EXONUM blockchain platform.