Ebang International to Launch Litecoin and Dogecoin Mining Business
February 25 2021 - 9:00AM
Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,”
“we” or “our”), a blockchain technology company in the global
market, today held a board meeting and passed a resolution (the
“Resolution”) to launch a Litecoin and Dogecoin mining business
(the “Business”). According to the Resolution, the Company plans to
operate its Litecoin (“LTC”) and Dogecoin (“Doge”) mining business
by adopting a combination of deploying self-manufactured mining
machines and mining machines purchased from other manufacturers as
well as leasing computing powers from other mining farms and allow
LTC and Doge to be mined simultaneously.
Mr. Dong Hu, Chairman and CEO of the Company,
commented, “We will develop LTC and Doge mining on the basis
of our Bitcoin mining business. The development of the Business
will further promote our related cryptocurrency-focused businesses
and increase our revenue. We believe this move will accelerate the
Company's transformation from solely a hardware manufacturer to a
diversified and vertically integrated blockchain company with
comprehensive involvements in the blockchain industry value
chain.”
There is no guarantee that the Company’s operation
of LTC and Doge mining business will commence as planned or at all,
or that such business operation will improve the Company’s
financial performance or results of operation. Shareholders are
cautioned not to place undue reliance on this press release or the
forward-looking statements therein.
About Ebang International Holdings
Inc.Ebang International Holdings Inc. is a blockchain
technology company with strong application-specific integrated
circuit (ASIC) chip design capability. With years of industry
experience and expertise in ASIC chip design, it has become a
leading bitcoin mining machine producer in the global market with
steady access to wafer foundry capacity. With its licensed or
registered entities in various jurisdictions, the Company seeks to
launch a professional, convenient and innovative digital asset
financial service platform to expand into the upstream and the
downstream of blockchain and cryptocurrency industry value chain.
For more information, please
visit https://ir.ebang.com.cn/.
Safe Harbor Statement
This press release contains forward-looking
statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and as defined in the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements include, without limitation, the
Company’s development plans and business outlook, which can be
identified by terminology such as “may,” “will,” “expects,”
“anticipates,” “aims,” “potential,” “future,” “intends,” “plans,”
“believes,” “estimates,” “continue,” “likely to” and other similar
expressions. Such statements are not historical facts, and are
based upon the Company’s current beliefs, plans and expectations,
and the current market and operating conditions. Forward-looking
statements involve inherent known or unknown risks, uncertainties
and other factors, all of which are difficult to predict and many
of which are beyond the Company’s control, which may cause the
Company’s actual results, performance and achievements to differ
materially from those contained in any forward-looking statement.
Further information regarding these and other risks, uncertainties
or factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. These forward-looking
statements are made only as of the date indicated, and the Company
undertakes no obligation to update or revise the information
contained in any forward-looking statements as a result of new
information, future events or otherwise, except as required under
applicable law.
Investor Relations ContactFor investor and
media inquiries, please contact:Ebang International Holdings
Inc.Email: ir@ebang.com.cn
Ascent Investor Relations LLCMs. Tina XiaoTel: (917)
609-0333Email: tina.xiao@ascent-ir.com
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