Ebang International Holdings Inc. reports decrease in revenues, net loss, shifting focus to renewable energy.

From GlobeNewswire: 2024-08-23 16:10:00

Ebang International Holdings Inc. announced a decrease in net revenues to US$2.11 million for the first six months of fiscal year 2024, down from US$3.38 million in 2023. Gross profit was US$0.08 million, and the net loss was US$6.65 million. The company is pivoting towards renewable energy technology and aims to leverage its R&D expertise.

In the first six months of 2024, Ebang International Holdings Inc. reported a decrease in total net revenues, a drop in cost of revenues, and a net loss of US$6.65 million. Operating expenses were US$12.50 million, and the company’s interest income increased to US$6.04 million. Ebang is focusing on optimizing operations and controlling costs to ensure sustainable development.

Ebang International Holdings Inc. (Nasdaq: EBON), a blockchain technology and Fintech company, registered a net loss of US$6.65 million in the first six months of 2024. The company is looking to expand into the renewable energy sector while maintaining profitability. Ebang aims to meet market demands with technological innovation and contribute to a sustainable future.



Read more at GlobeNewswire:: Ebang International Holdings Inc. Reports Unaudited