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Ebang International Confirms no Impact by Silicon Valley Bank Events

EBANG INTERNATIONAL HOLDINGS INC.
EBANG INTERNATIONAL HOLDINGS INC.

HANGZHOU, China, March 14, 2023 (GLOBE NEWSWIRE) -- Ebang International Holdings Inc. (Nasdaq: EBON, the “Company”, “we” or “our”), a global blockchain technology company, today announced that its cryptocurrency exchange platform, Ebonex, has no exposure incurred in events relating to Silvergate Bank, Signature Bank and Silicon Valley Bank.

Mr. Dong Hu, Chairman, Chief Executive Officer of the Company, commented, “We have been committed to providing customers with a safe trading platform, therefore we have maintained a diversified set of banking partners to limit various potential or unknown risk, and our financial health and capital liquidity remains strong. All customer funds remain secure and accessible. We will continue to expand Fintech's business on the basis of compliance and security, and strive to make our products and services more open, inclusive and safe, and become a trusted brand for global customers.”

About Ebang International Holdings Inc.
Ebang International Holdings Inc. is a global 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 global bitcoin mining machine producer with steady access to wafer foundry capacity. With its licensed and registered entities in various jurisdictions, the Company intends 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/.

Forward-Looking Statements
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 intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. 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 Contact
For investor and media inquiries, please contact:

Ebang International Holdings Inc.
Email: ir@ebang.com

Ascent Investor Relations LLC
Ms. Tina Xiao
Tel: (917) 609-0333
Email: tina.xiao@ascent-ir.com