I was looking at one of the new IPOs that kicked off yesterday, Ebang International Holdings Inc (EBON), opening at $5 per share and ended the day slightly under.
Couldn’t find much on the company (financials via Stockopedia and Morningstar aren’t the greatest, and even their website doesn’t seem well-maintained (although they are a Chinese company and perhaps have a better-updated site in their local domicile, don’t know)) but what I did find of interest was their business, as they specialise in the manufacture of of high performance Bitcoin mining machines.
Bitcoin mining has to be an area to put a pin in surely. At this point in time the rumour mill is rife with suggestion that several large financial firms might delve into the crypto currency market, with many potentially developing their own.
Admittedly I’ve steered well clear of Bitcoin as it is a world I do not understand in the slightest, but surely with institutions growing ever closer to this market (widely reknowned as the future by its supporters), surely the need for Ebang’s (and similar companies) hardware will hit top gear, no?
Would love to hear from others better versed in crypto on the above ideas. Would the BlackRocks and Baillie Giffords of the world need to invest in mining hardware if they were to release their own currency or are these two seperate sub-areas?
Also if anyone here is already invested (or thinking thereof) in similar companies that are available via 212, I’d love to know. Did a quick hunt for a few of the industry leaders but none were on the platform that I could see.
Food for thought I hope. Opinions and advice always welcome.