Founded in 2010, Ebang Communication began by producing hardware products for the telecommunications industry and later moved into the cryptocurrency mining space with the launch of its Ebit product in 2016.

Ebang Communication, one of the largest BTC mining chip manufacturers in China, is aiming to be listed on the Hong Kong Stock Exchange (HKEX). The company filed for an initial public offering on the Hong Kong stock exchange on Monday, a document shows. Since the application is still in draft form, it is unclear at this stage for what purpose it is being submitted. The filing was confirmed by an earlier report from Reuters, which indicated the firm was in talks with advisers for the move. According to a report at the time, Ebang was aiming to raise up to $1 billion. If this is true, the company could become the largest IPO in the cryptocurrency industry. The filing also comes a month after rival manufacturer Ebang Canaan Creative submitted an IPO filing on HKEX, which was also reportedly aiming to raise $1 billion. Additionally, Ebang's filing provided details of the firm's business operations.