(Reuters) – Short-seller Hindenburg Research said on Tuesday it was going short on Ebang International Holdings Inc, sending the Chinese bitcoin mining machine producer’s shares down nearly 10% in premarket trade.
“Ebang claims to be a “leading bitcoin mining machine producer”, yet our research indicates this extraordinary claim is backed by no evidence. Ebang released its final miner in May 2019 and has since seen its sales dwindle to near-zero, delivering only 6,000 total miners in 1H20,” the short seller said. https://bit.ly/3rOvpGA
Ebang did not immediately respond to a Reuters request for comment.
Chinese bitcoin mining machine manufacturer, Ebang debuted on Nasdaq in June last year and had conducted two fundraising rounds in February alone, raking in $170 million, even after a previous offering in November.
(Reporting by Chavi Mehta and Akanksha Rana in Bengaluru; Editing by Rashmi Aich)
