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Ebang International Holdings Inc. Reports Unaudited Financial Results for the First Six Months of Fiscal Year 2022
HANGZHOU, China, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,” “we” or “our”), a global blockchain
About this update from Ebang International Holdings Inc.
[{"type":"text","content":"HANGZHOU, China, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Ebang International Holdings Inc. (Nasdaq: EBON, the “Company,” “we” or “our”), a global blockchain technology company, today announced its unaudited financial results for the first six months of fiscal year 2022. Operational and Financial Highlights for the First Six Months of Fiscal Year 2022 Total computing power sold in the first six months of 2022 was 0.32 million Thash/s, representing a period-over-period decrease of 60.00% from 0.80 million Thash/s in the same period of 2021. Total net revenues in the first six months of 2022 were US$25.06 million, representing a 36.97% period-over-period increase from US$18.30 million in the same period of 2021. Gross profit in the first six months of 2022 was US$14.24 million compared to the gross profit of US$5.64 million in the same period of 2021. Net loss in the first six months of 2022 was US$10.92 million compared to US$4.26 million in the same period of 2021.Mr. Dong Hu, Chairman, Chief Executive Officer of the Company, commented, “The global COVID-19 pandemic and the continuous decline of price in cryptocurrency market has undeniably affected our daily operations. Facing these obstacles, we have actively expanded into new markets, including cryptocurrency exchange and cross-border payment businesses. Our Australian cryptocurrency exchange platform has also collaborated with Mastercard to become the first principal member in Australia for self-issuance of crypto-linked card and we believe expansion into these businesses will drive innovation in the crypto and payment space in Australia. When challenges and opportunities coexist, we always adhere to and continue expanding our global business in a legal and compliant manner. We firmly believe in the future development and mainstream trends of Fintech. We expect to continue to maintain our competitive advantage in the industry and continue to make progress and explore opportunities, so that we can achieve more revenue growth in the future and attain our long-term strategic development goals.” Unaudited Financial Results for the First Six Months of Fiscal Year 2022 Total net revenues in the first six months of 2022 were US$25.06 million, representing a 36.97% period-over-period increase from US$18.30 million in the same period of 2021. The period-over-period increase in total net rev...