Benzinga | Mar 17, 2021 08:43AM EDT

Ebang International Completes 6 nm ASIC Chip Designing For Bitcoin Mining Machines

HANGZHOU, China, March 17, 2021 (GLOBE NEWSWIRE) -- Ebang International Holdings Inc. (NASDAQ:EBON, the &quot, Company, &quot, &quot, we&quot, or &quot, our&quot, ))))), a blockchain technology company in the global market, today announced that it has completed a 6 nm ASIC chip designed for Bitcoin mining machines, which is expected to have a competitive edge in the market in terms of performance. The Company plans to begin volume production of its 6 nm chip when it determines market conditions become suitable.



Mr. Dong Hu, Chairman and CEO of the Company, commented, "The completion of our 6 nm ASIC chip is a significant milestone of our constant R&D efforts in recent years. We have devoted a lot of resources in building our R&D team and product innovation and iteration. Looking forward, we plan to continue developing ASIC chips designed for more mainstream cryptocurrency machines, which we believe will increase our revenue in the digital currency business and optimize our product offering structure along the blockchain industry value chain."

There is no guarantee that the Company will be able to commercialize its 6 nm ASIC chip design as planned or at all, or that such commercialization will improve the Company's financial performance or results of operations. Shareholders are cautioned not to place undue reliance on this press release or the forward-looking statements contained herein.