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China Bitcoin Mining Gear Maker Launches U.S. IPO

Ebang International has launched a roadshow for its U.S. initial public offering that could raise as much as $126 million, becoming the second Chinese Bitcoin mining machine maker to seek a U.S. listing.

If successful, Ebang will follow in the footsteps of larger rival Canaan Inc., which raised $90 million in an IPO last November after abandoning a plan to raise about $1 billion in Hong Kong. Ebang itself filed twice in Hong Kong before switching to the U.S., while Bitmain Technologies Ltd. -- the world’s biggest producer of cryptocurrency mining chips -- also made a failed Hong Kong IPO attempt.