Estimated reading time: 2 minutes, 42 seconds

The profitability, direction and potential challenges of the cryptocurrency mining industry are subjects of enormous speculation. To that end, recent developments, like a new patent related to exploring how human body activity can mine the currencies, as well as a newly filed application by a Chinese equipment manufacturer for a U.S. initial public offering (IPO), have contributed to that very discourse.

dollar 3706548 640smallOn Friday, April 24, Ebang International Holdings Inc. is looking to enter the American market and has asked the U.S. Securities and Exchange Commission to sign off on an IPO that would feature them on the New York Stock Exchange/Nasdaq Global Market under the ticker symbol “EBON.”

“We are an ‘emerging growth company’ as defined under applicable U.S. securities laws and are eligible for reduced public company reporting requirements,” reads the application. “Additionally, upon the completion of this offering, we will be a ‘controlled company’ as defined under corporate governance rules of [New York Stock Exchange]/[Nasdaq Global Market].”

Ebang is an application-specific integrated circuits chip design company. They also manufacturer Bitcoin mining machines,” according to the prospectus summary.

“We have strong ASIC chip design capability underpinned by nearly a decade of industry experience and expertise in the telecommunications business,” it continues. “We are one of the few fabless integrated circuit, or IC, design companies with the advanced technology to independently design ASIC chips, established access to third-party wafer foundry capacity and a proven in-house capability to produce blockchain and telecommunications products.”

From Twitter

Newsfeed @lulo1014

"HTC’s blockchain phone takes over a century to mine enough crypto to pay for itself https://theverge.com/2020/4/28/21239866/htc-exoudus-1s-monero-mining-cryptocurrency-blockchain-phone…. HTC’s Exodus blockchain smartphones will soon receive their own mining app, letting them mine Monero cryptocurrency when plugged in and idle, The Block reported earlier"

According to information from the application, the company anticipates pivoting to exploring blockchain tech applications in non-crypto industries like healthcare and financial services in addition to its mining and farming operations.

Microsoft Looks to Harness Human Activity to Mine Crypto

With a new patent filing, Microsoft is looking at an alternative way to mine cryptocurrencies. As such, it wants to harness human body activity. In a Microsoft Technology Licensing, LLC filing, the company aims to substitute complex computers with old-fashioned carbon and hydrogen.

“A sensor communicatively coupled to or comprised in the device of the user may sense body activity of the user. Body activity data may be generated based on the sensed body activity of the user,” reads the patent application. “The cryptocurrency system communicatively coupled to the device of the user may verify if the body activity data satisfies one or more conditions set by the cryptocurrency system, and award cryptocurrency to the user whose body activity data is verified."

One example provided explains how body heat or brain waves coming from a user while the user is performing a task, like watching an advertisement or using certain internet providers, can be used to mine.

“Instead of massive computation work required by some conventional cryptocurrency systems, data generated based on the body activity of the user can be a proof-of-work, and therefore, a user can solve the computationally difficult problem unconsciously,” it reads. Optimally, the process could reduce “computational energy” and make mining faster.

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