Beginning bull market instead of bear market rally
DJE Kapital AG – To mitigate the consequences of Corona, central banks are pumping enormous amounts of money into the markets. This should allow the economy to gradually recover. In addition, many investors are only marginally invested in shares – reasons for Dr. Ulrich Kaffarnik to assume that a longer lasting upward trend will begin.
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Understanding Bitcoin: This is what it’s really about
The Covid 19 pandemic has left a deep mark on the half-year balance sheet of Ebang International Holdings Inc. The chip designer and manufacturer of Bitcoin mining hardware presented its financial results for the first half of the year on September 25.
For the newcomer to the stock exchange – the company has been trading on the Nasdaq technology index since the end of June – H1 2020 was anything but a success story. The Bitcoin Evolution scam company’s turnover has slumped by more than 50 percent compared to the same period last year.
In the half-year report that the Chinese company filed with the U.S. Securities and Exchange Commission (SEC), the corona eruption is cited as the main reason for the decline in sales. It was not so much the temporary slump in the Bitcoin share price that was behind the loss of sales as supply bottlenecks for the chips that Ebang uses for its Bitcoin miners.
Our chip suppliers have reduced their production capacity due to the effects of COVID-19, which has led to our resource shortage in the first six months of 2020,
Ebang CEO Dong Hu is quoted in the report. According to Hu, the company reacted in good time to the challenges of the Corona crisis:
Given the turbulent social and industrial environment, we have taken timely and proactive measures to ensure the resilience of our business and enable us to deliver a solid performance once market conditions return to normal.
Ebang to diversify with Bitcoin exchanges
News from the CryptoKitties makers
Dapper Labs have started their Flow Blockchain Token Sale. Some of the world’s best developers and major brands are already on board among others (NBA TOP SHOT, UBISOFT, WARNER MUSIC GRUOP).
Apparently, this also means that Ebang is putting out feelers for new sources of income, especially in the direction of block-chain-based financial services.
Given the turbulent social and industrial environment, we have taken timely and proactive measures to ensure the resilience of our business and enable us to deliver a solid performance once market conditions return to normal.
Apparently, this includes putting out feelers for new sources of income, namely block-chain-based financial services.
Against this background, our management has actively optimized our revenue structure based on the productivity ratio and has strategically reviewed the expansion into block-chain-based financial services.
Already in June, the Ebang CFO leaked the news that the company intends to expand its operations beyond Bitcoin Mining. There was talk of a planned „off-shore“ exchange, but the CFO was silent at the time about where this would take place. In August, Ebang brought some light into the darkness: the founding of a subsidiary in Singapore should pave the way for a Bitcoin exchange in the country. Recently, a similar announcement followed for the North American region: on September 28, Ebang announced a new subsidiary in Canada, which is also dedicated to building a Bitcoin exchange. The company hopes that the expansion of its business activities will make it more independent of the Bitcoin course.