Ebang Clocks 65% Revenue Growth In 1H

Application-specific integrated circuit chip design and Bitcoin mining machine manufacturer Ebang International Holdings Inc EBON reported the first-half FY21 net revenue growth of 65.7% year-on-year to $18.3 million. Higher Bitcoin prices drove the growth.
Total computing power sold rose 220% Y/Y to 0.80 million Thash/s. Product revenue increased 209% Y/Y to $15.3 million.
Ebang reported a gross profit of $5.64 million. The net loss narrowed 38.8% Y/Y to $(4.26) million, while loss per share was $(0.02).
Ebang held $285.2 million in cash and equivalents.
Price Action: EBON shares traded higher by 4.17% at $2.00 in the premarket session on the last check Monday.

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