0001213900-21-023955 | 20-F | XBRL Viewer | Ebang International Holdings INC

Supplier F [Member] | Accounts receivable [Member]

10.00%

Supplier G [Member] | Accounts receivable [Member]

^[1]

61.00%

Supplier H [Member] | Accounts receivable [Member]

^[1]

45.00%

Supplier I [Member] | Accounts receivable [Member]

44.00%

^[1]

18.00%

^[1]

Customer J [Member] | Revenue [Member]

28.00%

^[1]

Customer A [Member] | Accounts receivable [Member]

^[1]

13.00%

Customer B [Member] | Accounts receivable [Member]

19.00%

^[1]

15.00%

Customer C [Member] | Accounts receivable [Member]

^[1]

12.00%

Customer D [Member] | Accounts receivable [Member]

^[1]

15.00%

Customer D [Member] | Revenue [Member]

24.00%

^[1]

Customer E [Member] | Accounts receivable [Member]

12.00%

^[1]

Customer E [Member] | Revenue [Member]

10.00%

^[1]

Customer K [Member] | Revenue [Member]

20.00%

^[1]

Customer L [Member] | Revenue [Member]

^[1]

16.00%

Customer M [Member] | Revenue [Member]

^[1]

18.00%

Customer N [Member] | Revenue [Member]

10.00%

^[1]

Customer O [Member] | Revenue [Member]

10.00%

^[1]

Condensed Financial Information Disclosure [Abstract]

10.00%

^[1]

[1]	Less than 10%

Condensed financial information of the parent company (Details) - Schedule of condensed balance sheets - Parent [Member] - Parent Company [Member] - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 8,318,219	$ 21,770
Debt investments	40,835,000
Other current assets, net	868,949
Due from subsidiaries	46,448,162
Total current assets	96,470,330	21,770
Non-current assets:
Intangible assets, net	19,714,079
Investment in subsidiaries	(5,030,523)	18,022,460
Total non-current assets	14,683,556	18,022,460
Total assets	111,153,886	18,044,230
Current liabilities:
Accrued liabilities and other payables	8,027,480
Due to subsidiaries		64,871
Total current liabilities	8,027,480	64,871
Total liabilities	8,027,480	64,871
Shareholders’ equity:
Ordinary share, HKD0.001 par value, 380,000,000 shares authorized, nil and 111,771,000 shares issued and outstanding at December 31, 2020 and 2019, respectively		14,330
Additional paid-in capital	138,288,921	23,888,023
Retained earnings (deficit)	(38,581,419)	(7,905,999)
Statutory reserves	11,049,847	11,049,847
Accumulated other comprehensive loss	(7,648,332)	(9,066,842)
Total shareholders’ equity	103,126,406	17,979,359
Total liabilities and shareholders’ equity	111,153,886	$ 18,044,230
Class A ordinary share
Shareholders’ equity:
Ordinary share value	11,411
Class B ordinary share
Shareholders’ equity:
Ordinary share value	$ 5,978

Related Party Transactions (Details) - Schedule of due to related party - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Schedule of due to related party [Abstract]
Zhejiang Wansi Computer Manufacturing Company Limited	$ 5,652,833	$ 6,242,824

Condensed financial information of the parent company (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of condensed balance sheets

	December 31,			December 31,
	2020			2019
Assets
Current assets:
Cash and cash equivalents	$	8,318,219		$	21,770
Debt investments		40,835,000			-
Other current assets, net		868,949			-
Due from subsidiaries		46,448,162			-
Total current assets		96,470,330			21,770

Non-current assets:
Intangible assets, net		19,714,079			-
Investment in subsidiaries		(5,030,523	)		18,022,460
Total non-current assets		14,683,556			18,022,460

Total assets	$	111,153,886		$	18,044,230

Liabilities and Shareholders’ Equity

Current liabilities:
Accrued liabilities and other payables	$	8,027,480			-
Due to subsidiaries		-		$	64,871
Total current liabilities		8,027,480			64,871

Total liabilities	$	8,027,480		$	64,871

Shareholders’ equity:
Ordinary share, HKD0.001 par value, 380,000,000 shares authorized, nil and 111,771,000 shares issued and outstanding at December 31, 2020 and 2019, respectively		-			14,330
Class A ordinary share, HKD0.001 par value, 333,374,217 shares authorized, 89,009,554 and nil shares issued and outstanding as of December 31, 2020 and 2019, respectively		11,411			-
Class B ordinary share, HKD0.001 par value, 46,625,783 shares authorized, 46,625,783 and nil shares issued and outstanding as of December 31, 2020 and 2019, respectively		5,978			-
Additional paid-in capital		138,288,921			23,888,023
Accumulated deficit		(38,581,419	)		(7,905,999	)
Statutory reserves		11,049,847			11,049,847
Accumulated other comprehensive loss		(7,648,332	)		(9,066,842	)
Total shareholders’ equity		103,126,406			17,979,359
Total liabilities and shareholders’ equity	$	111,153,886		$	18,044,230

Schedule of condensed statements of operations and comprehensive loss

	For the year ended December 31, 2020			For the year ended December 31, 2019			For the year ended December 31, 2018
Operating expenses:
General and administrative expenses	$	6,401,580		$	385,865		$	249,107
Total operating expenses		6,401,580			385,865			249,107

Loss from operations		(6,401,580	)		(385,865	)		(249,107	)

Interest income		798,328			4			12
Other expenses		(4,162	)		(1,390	)		(724	)
Exchange gain		340,643			529			-
Share of loss from subsidiaries		(25,408,649	)		(42,016,647	)		(12,058,675	)

Net loss		(30,675,420	)		(42,403,369	)		(12,308,494	)

Comprehensive loss
Net loss	$	(30,675,420	)	$	(42,403,369	)	$	(12,308,494	)
Other comprehensive income (loss):
Foreign currency translation adjustment		1,418,510			(1,188,488	)		(11,363,682	)
Comprehensive loss	$	(29,256,910	)	$	(43,591,857	)	$	(23,672,176	)

Schedule of condensed statements of cash flows

	For the year ended December 31, 2020			For the year ended December 31, 2019			For the year ended December 31, 2018
Cash Flows from Operating Activities:
Net loss	$	(30,675,420	)	$	(42,403,369	)	$	(12,308,494	)
Adjustments to reconcile net loss to net cash used in operating activities:
Share of loss from subsidiaries		25,408,649			42,016,647			12,058,675
Amortization Expense		165,664			-			-
Changes in assets and liabilities:
Due from subsidiaries		(46,448,162	)		193,591			(193,590	)
Other current assets, net		(868,949	)		-			-
Accrued liabilities and other payables		75,583			-			-
Due to subsidiaries		(64,871	)		64,871			-
Net Cash Used in Operating Activities		(52,407,506	)		(128,260	)		(443,409	)

Cash Flows from Investing Activities
Cash paid for debt investments		(79,915,000	)		-			-
Proceeds from redemption of debt investments		39,080,000			-			-
Purchases of intangible assets		(11,927,846	)		-			-
Net Cash Used in Investing Activities		(52,762,846	)		-			-

Cash Flows from Financing Activities
Sale of subsidiary		76,566			-			-
Capital contribution from shareholder		-			-			7,700
Issuance of ordinary shares for cash		114,191,595			-			585,739
Net Cash Provided by Financing Activities		114,268,161			-			593,439

Effect of Foreign Exchange on Cash		(801,360	)		-			-

Net Increase (Decrease) in Cash and Cash Equivalents		8,296,449			(128,260	)		150,030

Cash and Cash Equivalents at Beginning of Year		21,770			150,030			-

Cash and Cash Equivalents at End of Year		8,318,219		$	21,770		$	150,030

Credit Risk and Major Customers

12 Months Ended

Dec. 31, 2020

Risks and Uncertainties [Abstract]

Credit risk and major customers

Note 15 – Credit risk and major customers

Accounts receivable concentration of credit risk is as below:

	As of December 31,			As of December 31,
	2020			2019
Customer A		19	%		15	%
Customer B		*	%		12	%
Customer C		*	%		15	%
Customer D		24	%		*	%
Customer E		10	%		*	%

Supplier concentration of credit risk is as below:

	For the year ended December 31,			For the year ended December 31,			For the year ended December 31,
	2020			2019			2018
Supplier F		*	%		*	%		61	%
Supplier G		*	%		45	%		*	%
Supplier H		44	%		18	%		*	%
Supplier I		28	%		*	%		*	%

Revenue concentration of credit risk is as below:

For the year
ended
December 31,

2020

2019

2018

Customer J

Customer K

Customer E

Customer L

Customer D

Customer M

Customer N

Customer O

*	Less than 10%

Inventories, Net (Details) - USD ($)	12 Months Ended
Inventories, Net (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Market adjustment in cost of revenue	$ 3,644,243	$ 6,341,957	$ 61,771,039

Equity (Tables)

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

Schedule of warrants activities

	Number of shares		Weight- average
	issuable		exercise price
Description
Balance at January 1, 2018	-		$	-
Outstanding and exercisable at January 1, 2018	-			-
Balance at December 31, 2018	-			-
Outstanding and exercisable at December 31, 2018	-			-
Balance at December 31, 2019		-		-
Outstanding and exercisable at December 31, 2019		-		-
Granted		2,300,000		5.50
Balance at December 31, 2020		2,300,000		5.50
Outstanding and exercisable at December 31, 2020		2,300,000	$	5.50

Equity

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

Equity

Note 11 – Equity

Ordinary shares

Ebang International was established under the laws of the Cayman Islands on May 17, 2018. The authorized number of ordinary shares is 380,000,000 shares with a par value of HKD0.001 per ordinary share.

Immediately upon the completion of the initial public offering (IPO), the Company adopted a dual-class share structure, consisting of Class A ordinary shares and Class B ordinary shares, with par value of HKD0.001 per share. 46,625,783 ordinary shares, beneficially owned by its incorporator Top Max Limited, were re-designated into Class B ordinary shares on a one-for-one basis, the remaining 65,145,217 ordinary shares were re-designated into Class A ordinary shares on a one-for-one basis.

Each Class A ordinary share is entitled to one vote per share and each Class B ordinary share is entitled to twenty votes per share. Each Class B ordinary share can be converted into one Class A ordinary share at any time, while Class A ordinary shares cannot be converted into Class B ordinary shares.

As of December 31, 2020, the Company completed the IPO with new issuance of totaling 19,264,337 Class A ordinary shares at a price of $5.23 per share. Net proceeds raised by the Company from the IPO amounted to approximately $92 million after deducting underwriting discounts and commissions and other offering expenses. The Company received all the net proceeds on July 2, 2020.

The Company commenced an additional offering with new issuance of totaling 8,000,000 units at a price of $5.25 per unit in November 2020 (the “November 2020 Offering”), intending to raise $42 million funding prior to deducting underwriting discounts and commissions and other offering expenses. Each unit consists of one share of Class A ordinary shares and one warrant to purchase one-half of a Class A ordinary share. As of December 31, 2020, the Company issued 4,600,000 Class A ordinary shares following the sale of 4,600,000 units in relation to the November 2020 Offering and received a net proceeds of approximately $23 million.

Warrants

In connection with the 4,600,000 units sold in the November 2020 Offering, the Company issued 4,600,000 warrants to purchase 2,300,000 shares of Class A ordinary shares. The warrants are immediately exercisable and expire on the fifth anniversary of the original issuance date. The exercise price of each two warrant is $5.50. The warrants may be exercised only for a whole number of shares and the Company does not issue fractional shares upon exercise of the warrants. The following table sets forth the Company’s warrant activities for the years ended December 31, 2020, 2019 and 2018:

	Number of shares		Weight- average
	issuable		exercise price
Description
Balance at January 1, 2018	-		$	-
Outstanding and exercisable at January 1, 2018	-			-
Balance at December 31, 2018	-			-
Outstanding and exercisable at December 31, 2018	-			-
Balance at December 31, 2019		-		-
Outstanding and exercisable at December 31, 2019		-		-
Granted		2,300,000		5.50
Balance at December 31, 2020		2,300,000		5.50
Outstanding and exercisable at December 31, 2020		2,300,000	$	5.50

The intrinsic value of these warrants was approximately $1.3 million and nil as of December 31, 2020 and 2019, respectively.

Condensed financial information of the parent company (Details) - Schedule of condensed balance sheets (Parentheticals) - Parent [Member] - Parent Company [Member] - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary share, par value (in Dollars per share)	$ 0.001	$ 0.001
Ordinary share, shares authorized	380,000,000	380,000,000
Ordinary share, shares issued	111,771,000	111,771,000
Ordinary share, shares outstanding	111,771,000	111,771,000
Class A ordinary share
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary share, par value (in Dollars per share)	$ 0.001	$ 0.001
Ordinary share, shares authorized	333,374,217	333,374,217
Ordinary share, shares issued	89,009,554	89,009,554
Ordinary share, shares outstanding	89,009,554	89,009,554
Class B ordinary share
Condensed Balance Sheet Statements, Captions [Line Items]
Ordinary share, par value (in Dollars per share)	$ 0.001	$ 0.001
Ordinary share, shares authorized	46,625,783	46,625,783
Ordinary share, shares issued	46,625,783	46,625,783
Ordinary share, shares outstanding	46,625,783	46,625,783

Loans (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Schedule of outstanding balances of loans

As of December 31, 2020

Balance

Maturity
Date

Effective
Interest
Rate

Collateral/
Guarantee

Hangzhou United Bank

765,967

September 7, 2021

5.50

N/A

As of December 31, 2019	Balance		Maturity Date	Effective Interest Rate			Collateral/ Guarantee
Haitong International Credit Company Limited	$	4,871,795	January 10, 2020		8.6641	%	See below
Total short-term loan		4,871,795
Less: unamortized debt issuance costs		7,098
Loan due within one year, less unamortized debt issuance costs	$	4,864,697

Schedule of future loan obligations

2021	$	765,967
2022 and thereafter		-
Total	$	765,967

Subsequent events (Details) - USD ($)		1 Months Ended			12 Months Ended
Subsequent events (Details) - USD ($)	Feb. 28, 2021	Mar. 31, 2021	Feb. 28, 2021	Jan. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Subsequent events (Details) [Line Items]
Exercised shares					2,300,000
Subsequent Event [Member]
Subsequent events (Details) [Line Items]
Sale of units in shares			19,200,000	3,400,000
Sale of units (in Dollars)			$ 5	$ 17,000,000
Price per share (in Dollars per share)	$ 5.25		$ 5.25
March 2021 Offering [Member] \| Subsequent Event [Member]
Subsequent events (Details) [Line Items]
Sale of units in shares		14,000,000
Price per share (in Dollars per share)		$ 6.1
Net proceeds (in Dollars)		$ 80,000,000
Description of purchased stock		Each unit offered in the March 2021 Offering consist of one Class A ordinary share and one warrant to purchase one-half of one Class A ordinary share. The warrants are immediately exercisable and expire on the fifth anniversary of the original issuance date. The exercise price of each two warrant is $6.59.
Warrant price (in Dollars per share)		$ 6.59
Warrant [Member] \| Subsequent Event [Member]
Subsequent events (Details) [Line Items]
Sale of units in shares				3,400,000
Warrant Inducement Offering [Member] \| Subsequent Event [Member]
Subsequent events (Details) [Line Items]
Sale of units in shares	13,600,000
Number of shares sold	13,600,000
Net proceeds (in Dollars)	$ 68,000,000
Class A ordinary shares [Member] \| Subsequent Event [Member]
Subsequent events (Details) [Line Items]
Sale of units in shares				3,400,000
Exercised shares				1,700,000
Class A ordinary shares [Member]
Subsequent events (Details) [Line Items]
Sale of units in shares	13,600,000
Class A ordinary shares [Member] \| Subsequent Event [Member]
Subsequent events (Details) [Line Items]
Price per share (in Dollars per share)	$ 11.06		$ 11.06

Accrued Expenses and Other Payables

12 Months Ended

Dec. 31, 2020

Payables and Accruals [Abstract]

Accrued expenses and other payables

Note 8 – Accrued expenses and other payables

The components of accrued expenses and other payables are as follows:

	As of December 31,		As of December 31,
	2020		2019
Salary payable	$	794,022	$	1,014,296
Interest payable		-		772,218
Payable to consultants		1,527,340		1,576,278
License payable		7,951,898		-
Refundable deposit to customers		1,230,142		6,255,741
Payable to property, plant and equipment suppliers		9,375,507		3,008,802
Other accrued liabilities		1,042,705		1,111,706
Total accrued liabilities and other payables	$	21,921,614	$	13,739,041

Other accrued liabilities mainly consist of insurance payables, social security payables and accrued professional service fees.

Income Taxes (Details) - Schedule of effective income tax rate and PRC statutory income tax	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of effective income tax rate and PRC statutory income tax [Abstract]
Loss before income taxes	25.00%	25.00%	25.00%
Effect of expenses not deductible for tax purposes	0.00%	(0.03%)	(0.39%)
Effect of additional deduction of research and development expense	6.70%	6.33%	76.11%
Effect of income tax exemptions and reliefs	(0.70%)	0.01%	23.18%
Effect of valuation allowance on deferred income tax assets	(67.10%)	(29.70%)	(116.08%)
Income tax difference under different tax jurisdictions	(2.20%)
Others	(2.10%)	(2.59%)	(16.06%)
Total	(40.40%)	(0.98%)	(8.24%)

Debt investments (Tables)

12 Months Ended

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of debt investments

	As of December 31,		As of December 31,
	2020		2019

Available-for-sale debt investments	$	40,835,000	$	-

Summary of Significant Accounting Policies (Details)	12 Months Ended
Summary of Significant Accounting Policies (Details)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Summary of Significant Accounting Policies (Details) [Line Items]
Foreign currency translation and transaction, description	For Ebang International, HK Ebang Technology and all BVI entities, except for the equity, the balance sheet accounts at December 31, 2020 and 2019 and results of operations and cash flows for the years ended December 31, 2020, 2019 and 2018 were translated at HKD7.8 to $1.00. For all PRC subsidiaries, the balance sheet accounts, with the exception of equity, at December 31, 2020 and 2019 were translated at RMB6.5277 and RMB6.9680 to $1.00, respectively. The equity accounts were translated at their historical rate. The average translation rates applied to statements of operations for the years ended December 31, 2020, 2019 and 2018 were RMB6.9001, RMB6.9088 and RMB6.6146 to $1.00, respectively.
Restricted cash	$ 454,312	$ 2,313,905
Notes receivables	765,967
Advance from customers	832,842	1,015,675
Contract liabilities as revenue	$ 279,423	1,832,391	$ 121,604,493
Number of operating segments	1
Selling and handling costs	$ 96,997	97,719	1,233,527
Research and development expenses	8,459,765	13,367,396	43,488,851
Government grants	$ 4,006,567	6,298,893	798,680
VAT, description	Revenue is recognized net of value-added taxes (“VAT”). VAT is based on gross sales price and the VAT rate applicable to the Company is 17% for the period from the beginning of 2018 till the end of April 2018, then changed to 16% from May 2018 to the end of March 2019, and changed to 13% since April 2019. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded as VAT payable if output VAT is larger than input VAT and is recorded as VAT recoverable if input VAT is larger than output VAT. All of the VAT returns filed by the Company’s subsidiaries in China, have been and remain subject to examination by the tax authorities. Pursuant to Caishui (2011) No. 100 issued by the State Tax Bureau of the PRC, Zhejiang Ebang and Ebang IT are qualified as enterprises selling self-developed software products and enjoying a tax refund for the excess of 3% of their actual tax burden after the VAT is levied at the 17% or 16% or 13% tax rate since January 2011.
VAT refund		$ 9,138	$ 27,368,030
Statutory reserve, description	Pursuant to the laws applicable to the PRC, PRC entities must make appropriations from after-tax profit to the non-distributable “statutory surplus reserve fund”. Subject to certain cumulative limits, the “statutory surplus reserve fund” requires annual appropriations of 10% of after-tax profit until the aggregated appropriations reach 50% of the registered capital (as determined under accounting principles generally accepted in the PRC (“PRC GAAP”) at each year-end). For foreign invested enterprises and joint ventures in the PRC, annual appropriations should be made to the “reserve fund”. For foreign invested enterprises, the annual appropriation for the “reserve fund” cannot be less than 10% of after-tax profits until the aggregated appropriations reach 50% of the registered capital (as determined under PRC GAAP at each year-end).
Hangzhou Dewang [Member]
Summary of Significant Accounting Policies (Details) [Line Items]
Non controlling interest, percentage	51.05%

Inventories, Net

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Inventories, net

Note 5 – Inventories, net

	As of December 31,			As of December 31,
	2020			2019
Finished goods	$	2,230,580		$	2,959,783
Work in process		31,303,333			48,177,240
Raw materials		28,370,424			18,131,911
		61,904,337			69,268,934
Less: inventory write-down		(58,059,246	)		(56,180,392	)
Inventories, net	$	3,845,091		$	13,088,542

During the years ended December 31, 2020, 2019 and 2018, the Company recorded write-down for the potentially obsolete, slow-moving inventories and lower of cost or market adjustment of $3,644,243, $6,341,957 and $61,771,039 in cost of revenues, respectively.

Inventories, Net (Tables)

12 Months Ended

Dec. 31, 2020

Inventory Disclosure [Abstract]

Schedule of inventories

	As of December 31,			As of December 31,
	2020			2019
Finished goods	$	2,230,580		$	2,959,783
Work in process		31,303,333			48,177,240
Raw materials		28,370,424			18,131,911
		61,904,337			69,268,934
Less: inventory write-down		(58,059,246	)		(56,180,392	)
Inventories, net	$	3,845,091		$	13,088,542

Accrued Expenses and Other Payables (Tables)

12 Months Ended

Dec. 31, 2020

Payables and Accruals [Abstract]

Schedule of components of accrued expenses and other payables

	As of December 31,		As of December 31,
	2020		2019
Salary payable	$	794,022	$	1,014,296
Interest payable		-		772,218
Payable to consultants		1,527,340		1,576,278
License payable		7,951,898		-
Refundable deposit to customers		1,230,142		6,255,741
Payable to property, plant and equipment suppliers		9,375,507		3,008,802
Other accrued liabilities		1,042,705		1,111,706
Total accrued liabilities and other payables	$	21,921,614	$	13,739,041

Nature of Business and Organization (Tables)

12 Months Ended

Dec. 31, 2020

Nature of Business and Organization [Abstract]

Schedule of accompanying consolidated financial statements

Name	Background		Ownership
Orient Plus International Limited (“Orient Plus”)	●	A British Virgin Islands (“BVI”) company	100% owned by Ebang International
	●	Incorporated on June 6, 2018
	●	A holding company

Ebang Communications (HK) Technology Limited (“HK Ebang Communications”), formerly known as Hong Kong Bite Co., Ltd. or HK Bite	●	A Hong Kong company	100% owned by Orient Plus
	●	Incorporated on February 12, 2016
	●	A Trading company

Power Ebang Limited (“Power Ebang”)	●	A British Virgin Islands company	100% owned by Ebang International
	●	Incorporated on February 26, 2018
	●	A holding company

Hong Kong Ebang Technology Co., Ltd. (“HK Ebang Technology”)	●	A Hong Kong company	100% owned by Power Ebang
	●	Incorporated on February 12, 2018
	●	A holding company

Leader Forever Holdings Limited (“Leader Forever”)	●	A British Virgin Islands company	100% owned by Ebang International
	●	Incorporated on January 7, 2019
	●	A holding company

Hong Kong Ebang Information Co., Ltd. (“HK Ebang Information”)	●	A Hong Kong company	100% owned by Leader Forever
	●	Incorporated on April 1, 2019
	●	A Trading company

Hangzhou Ebang Hongfa Technology Co., Ltd. (“Ebang Hongfa”)	●	A PRC limited liability company and deemed a wholly foreign owned enterprise (“WFOE”)	100% owned by HK Ebang Technology
	●	Incorporated on February 11, 2018
	●	A holding company

Hangzhou Ebang Hongling Technology Co., Ltd. (“Ebang Hongling”)	●	A PRC limited liability company	100% owned by Ebang Hongfa
	●	Incorporated on July 3, 2019	100% owned by Ebang Hongfa

Wuhai Ebang Information Technology Co., Ltd. (“Wuhai Ebang”)	●	A PRC limited liability company	100% owned by Ebang Hongling
	●	Incorporated on September 18, 2017	100% owned by Ebang Hongling

Zhejiang Ebang Communication Technology Co., Ltd. (“Zhejiang Ebang”)	●	A PRC limited liability company	99.99% owned by Ebang Hongfa
	●	Incorporated on January 21, 2010	99.99% owned by Ebang Hongfa

Zhejiang Ebang Information Technology Co., Ltd. (“Ebang IT”)	●	A PRC limited liability company	100% owned by Zhejiang Ebang
	●	Incorporated on August 11, 2010	100% owned by Zhejiang Ebang

Yunnan Ebang Information Technology Co., Ltd. (“Yunnan Ebang”)	●	A PRC limited liability company	100% owned by Zhejiang Ebang
	●	Incorporated on June 28, 2016	100% owned by Zhejiang Ebang

Hangzhou Yiquansheng Communication Technology Co., Ltd. (formerly known as Suzhou Yiquansheng Communication Technology Co., Ltd.) (“Hangzhou Yiquansheng”)*	●	A PRC limited liability company	100% owned by Zhejiang Ebang before disposed by the Company in Dec. 2020*
	●	Incorporated on April 2, 2018

Hangzhou Ebang Jusheng Technology Co., Ltd. (“Ebang Jusheng”)	●	A PRC limited liability company	100% owned by Ebang Hongfa
	●	Incorporated on January 3, 2018	100% owned by Ebang Hongfa

Hangzhou Dewang Information Technology Co., Ltd. (“Hangzhou Dewang”)	●	A PRC limited liability company	51.05% owned by Ebang Hongfa
	●	Incorporated on December 31, 2015	51.05% owned by Ebang Hongfa

In December 2020, the Company sold 100% of the equity ownership of Hangzhou Yiquansheng to an affiliate controlled by Mr. Dong Hu, CEO of the Company. Hangzhou Yiquansheng did not conduct significant operation for the Company and the disposal does not cause a shift in the Company’s operating strategy. As a result, the disposal is accounted for as a sale of asset to an entity under common control. The gain on disposal of Hangzhou Yiquansheng is included in the statements of changes in equity.

Loans (Details) - Schedule of future loan obligations	Dec. 31, 2020 USD ($)
Schedule of future loan obligations [Abstract]
2021	$ 765,967
2022 and thereafter
Total	$ 765,967

Accounts Receivable, Net

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Accounts receivable, net

Note 4– Accounts receivable, net

Accounts receivable, net consist of the following:

	As of December 31,			As of December 31,
	2020			2019
Accounts receivable	$	11,993,968		$	9,900,458
Less: Allowance for doubtful accounts		(4,788,855	)		(1,772,280	)
Accounts receivable, net	$	7,205,113		$	8,128,178

Movements of allowance for doubtful accounts are as follows:

	For the year ended December 31,		For the year ended December 31,			For the year ended December 31,
	2020		2019			2018
Allowance for doubtful accounts, beginning balance	$	1,772,280	$	1,769,468		$	1,849,985
Add: Provision for doubtful accounts		2,740,639		26,297			19,778
Effects of foreign exchange rate		275,936		(23,485	)		(100,295	)
Allowance for doubtful accounts, ending balance	$	4,788,855	$	1,772,280		$	1,769,468

Operating leases (Details) - Schedule of cash flow information related to operating leases - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$ 690,626	$ 854,431
Supplemental lease cash flow disclosure
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$ 192,395	$ 1,142,321

Related Party Transactions

12 Months Ended

Dec. 31, 2020

Related party transactions

Note 16 – Related party transactions

a)	Related parties

Name of related parties		Relationship with the Company
Dong Hu		Chief executive officer (CEO) of the Company
Hong Kong Dewang Limited		Wholly owned by Zhengqian Jiang, father-in-law of Dong Hu
Zhejiang Wansi Computer Manufacturing Company Limited		68% owned by Aiqun Jiang, spouse of Dong Hu
Hangzhou Yibang Zhiyang Technology Co., Ltd.		Controlled by Dong Hu
Top Max Limited		Controlled by Dong Hu
Shubo Qian		Brother-in-law of Dong Hu
Jun Hu		Sister of Dong Hu

b)	Long-term loans from related party

		As of December 31, 2020				As of December 31, 2019
Hong Kong Dewang Limited		$	-			$	17,632,000

During the year ended December 31, 2020, the Company obtained loans in the amount of $6,481,700 from Hong Kong Dewang Limited with interest rate of 4.7500% per annum. As of December 31, 2020, the Company has fully repaid the loan related to Hong Kong Dewang Limited. The interest associated with this loan for the amount of approximately $678,000, was included in the consolidated statement of operations and comprehensive loss.

During the year ended December 31, 2019, the Company obtained loans in the amount of $17,632,000 from Hong Kong Dewang Limited with interest rate of 4.7500% per annum. The maturity dates of the loans existing as of December 31, 2019 ranged from June 5, 2022 to September 30, 2022. The principal and interests shall be repaid in full on the maturity date.

c)	Operating leases with related party:

The Company leases office space from Zhejiang Wansi Computer Manufacturing Company Limited under non-cancellable operating lease agreements with lease terms ranging from two to three years. Lease expense from related party for the years ended December 31, 2020, 2019 and 2018 amounted to $29,582, $29,545 and $37,198, respectively.

d)	Due to related party

The balance of due to related party represents advances the Company obtained from a related party. The balances owed to the related party are unsecured, non-interest bearing and payable on demand. As of December 31, 2020 and 2019, due to related party consisted of the followings:

	As of		As of
	December 31,		December 31,
	2020		2019
Zhejiang Wansi Computer Manufacturing Company Limited	$	5,652,833	$	6,242,824

For the year ended December 31, 2020, the Company borrowed approximately $1.8 million from and repaid approximately $2.8 million to Zhejiang Wansi Computer Manufacturing Company Limited, respectively.

For the year ended December 31, 2019, the Company borrowed approximately $6.5 million from and repaid approximately $217,000 to Zhejiang Wansi Computer Manufacturing Company Limited, respectively.

e)	Interest free loans from related party

During the year ended December 31, 2020, the Company borrowed $749,949 from Dong Hu and fully repaid the loan in the same period. The loan is unsecured, non-interest bearing and payable on demand.

During the year ended December 31, 2019, the Company borrowed $1,050,000 from Shubo Qian, a related party and fully repaid the loan in the same period. The loan is unsecured, non-interest bearing and payable on demand.

During the year ended December 31, 2019, the Company borrowed RMB14,500,000 (approximately $2,081,000) from Jun Hu, a related party and fully repaid the loan in the same period. The loan is unsecured, non-interest bearing and payable on demand.

f)	Disposal of a subsidiary to a related party

In December 2020, the Company disposed Hangzhou Yiquansheng to an affiliate controlled by Mr. Dong Hu, CEO of the Company, for RMB500,000. The gain on disposal of Hangzhou Yiquansheng is accounted for as a capital contribution from Dong Hu, CEO as a result of this transaction between entities under common control of Dong Hu. The disposal of Hangzhou Yiquansheng does not constitute a strategic shift of the Company’s operation.

During the year ended December 31, 2020, Hangzhou Yiquansheng borrowed approximately $562,000 from the affiliate controlled by Mr. Dong Hu. The liability was extinguished in connection with the disposal of Hangzhou Yiquansheng, related gain on extinguishment is included in the gain on disposal, accounted for as a capital contribution.

g)	Loan guarantee and pledge provided by related parties

During the year ended December 31, 2018, the Company entered into a facility agreement with Haitong International Credit Company Limited. The loan was pledged, among other things, by the Company’s ordinary shares owned by Top Max Limited and guaranteed by Dong Hu. The pledge and guarantee were released upon the full repaid of the loan in the year ended December 31, 2020. See Note 9.

Contingencies (Details) ¥ in Millions							1 Months Ended
Contingencies (Details) ¥ in Millions	Aug. 06, 2020 USD ($)	Aug. 06, 2020 CNY (¥)	Nov. 19, 2019	Sep. 03, 2018	Jan. 01, 2016 USD ($)	Jan. 01, 2016 CNY (¥)	Dec. 29, 2020 USD ($)	Dec. 29, 2020 CNY (¥)	Nov. 22, 2019 USD ($) shares	Nov. 22, 2019 CNY (¥) shares	Jun. 24, 2019	Mar. 18, 2019	Jan. 29, 2019
Contingencies (Details) [Line Items]
Compensate plaintiff amount	$ 71,000	¥ 0.5
Outstanding balance							$ 4,400,000	¥ 30.4
Mining machine units									80,000	80,000
Remaining payment plus interest									$ 40,499,000	¥ 282.2
Wangjing Technology Co., Ltd [Member]
Contingencies (Details) [Line Items]
Economic losses and reasonable rights					$ 431,000	¥ 3.0
Hangzhou Intermediate People’s Court [Member]
Contingencies (Details) [Line Items]
Civil action filed, description				The plaintiff claimed damages totaling approximately RMB53.9 million (approximately $7,735,000) and demanded rescission of the original purchase contract. The Court has forced to restrict cash amounted to RMB14,934,103 (approximately $2,143,000) from the Company’s bank accounts for the period from September 18, 2018 to September 17, 2019. On November 5, 2019, the Hangzhou Intermediate People’s Court ruled that Zhejiang Ebang shall pay the plaintiff, within 10 days after the verdict becoming effective, liquidity damages and logistics expenses totaling RMB178,611 (approximately $26,000) and rejected the plaintiff’s other requests. The plaintiff has filed an appeal, and in April 2020, the Hangzhou Higher People’s Court dismissed the appeal and affirmed the original judgement. An aggregate amount of RMB13,319,900 (approximately $1,912,000) was judicially frozen by the court has been released on April 15, 2020. The land use right with original cost of RMB18,117,700 (approximately $2,600,000) judicially frozen by the court from October 11, 2018 has been released on January 9, 2020							one of our customers filed a civil action in the Hangzhou Intermediate People’s Court against the Company in relation to the sales of 80,000 units of mining machines amounting to RMB403.2 million (approximately $57,865,000) pursuant to an executed sales contract. The plaintiff claimed that only 24,000 units out of the 80,000 units were received, and the remaining 56,000 units were still pending to be delivered. For the delivered 24,000 units of mining machines, the quality did not meet the plaintiff’s specifications. The plaintiff sought to rescind the sales contract and supplementary contract, return the 24,000 units of mining machines, which cannot meet the agreed performance, and asked for the return of partial payment totaling RMB120.96 million (approximately $17,359,000) under the sales contract and undertake the legal expenses.		The defendant had purchased from the Company, and the Company had delivered 90,000 units of mining machines for a total amount of RMB453.6 million (approximately $65,098,000) pursuant to an executed sales contract. The defendant has paid RMB380 million (approximately $54,535,000), and the Company is seeking payment of the remaining balance of RMB73.6 million (approximately $10,563,000) plus interest and legal expenses. On August 15, 2019, the defendant filed a counterclaim against the Company, primarily alleging incompletion of delivery of products, only 65,000 units out of 90,000 units of mining machines were delivered and accepted, and the defendant sought for the refund of the payment of the alleged undelivered products of 25,000 mining machines amounted to RMB52.4 million (approximately $7,520,000) plus interest and legal expenses.
Baoshan Intermediate People’s Court [Member]
Contingencies (Details) [Line Items]
Civil action filed, description												The defendant had purchased from the Company, and the Company had delivered 10,000 units of mining machines for a total amount of RMB50.4 million (approximately $7,233,000). The defendant has paid RMB20 million (approximately $2,870,000), and the Company is seeking the payment of the outstanding balance of RMB30.4 million (approximately $4,363,000). On September 23, 2019, the defendant filed a counterclaim against the Company, primarily alleging failure to deliver products of 10,000 units of mining machines, and sought for the refund of the payment of the alleged undelivered products amounted to RMB10 million (approximately $1,435,000) plus interest and legal expenses.
High Court of the Hong Kong Special Administrative Region [Member]
Contingencies (Details) [Line Items]
Civil action filed, description			the Company filed a civil action in the High Court of the Hong Kong Special Administrative Region, Court of First Instance against one of the Company’s suppliers, alleging breach of contract for delivering defective products and seeking damages in the total of $25.1 million plus interest and costs. Further, at this stage, the management of the Company, together with the trail counsel of this case, do not believe the possibility and magnitude of the outcomes of the aforementioned lawsuit can be reasonably estimated.

Income Taxes (Details)	12 Months Ended
Income Taxes (Details)	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income taxes, description	The applicable tax rate is 8.25% on assessable profits arising in or derived from Hong Kong up to HKD2,000,000 and 16.5% on any part of assessable profits over HKD2,000,000. HK Ebang Communications, HK Ebang Technology and HK Ebang Information did not make any provisions for Hong Kong profit tax as there were no assessable profits derived from or earned in Hong Kong since inception.
Income tax effects, description	Ebang Hongfa, Ebang Hongling, Wuhai Ebang, Zhejiang Ebang, Ebang IT, Yunnan Ebang, Hangzhou Yiquansheng, Hangzhou Dewang and Ebang Jusheng are governed by the income tax laws of the PRC and the income tax provision in respect to operations in the PRC is calculated at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect thereof. Under the Enterprise Income Tax Laws of the PRC (the “EIT Laws”), domestic enterprises and Foreign Investment Enterprises (the “FIE”) are usually subject to a unified 25% enterprise income tax rate while preferential tax rates, tax holidays and even tax exemption may be granted on case-by-case basis. EIT grants preferential tax treatment to certain High and New Technology Enterprises (“HNTEs”). Under this preferential tax treatment, HNTEs are entitled to an income tax rate of 15%, subject to a requirement that they re-apply for HNTE status every three years. Zhejiang Ebang obtained the “high-tech enterprise” tax status in November 2017, which reduced its statutory income tax rate to 15% from November 2017 to November 2020. Zhejiang Ebang further re-applied and obtained the HNTE status in December 2020. Hangzhou Dewang obtained the “high-tech enterprise” tax status in November 2018, which reduced its statutory income tax rate to 15% from November 2018 to November 2021. In addition, Ebang IT, was qualified as a software enterprise in 2018, and thus was entitled to a five-year tax holiday (full exemption for the first two years and a 50% reduction in the statutory income tax rate for the following three years) in 2018 until its software enterprise qualification expired in 2019.
Statutory income tax rate	25.00%

Property, Plant and Equipment, Net (Details) - Schedule of property, plant and equipment, net - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total	$ 52,063,083	$ 29,393,624
Accumulated depreciation	(22,939,840)	(16,168,863)
Property, plant and equipment, net	29,123,243	13,224,761
Buildings [Member]
Property, Plant and Equipment [Line Items]
Total	3,927,085	4,135,656
Mechanical equipment [Member]
Property, Plant and Equipment [Line Items]
Total	19,562,087	18,432,857
Motor vehicles [Member]
Property, Plant and Equipment [Line Items]
Total	348,941	321,719
Office equipment [Member]
Property, Plant and Equipment [Line Items]
Total	6,772,941	1,678,977
Computer software [Member]
Property, Plant and Equipment [Line Items]
Total	174,740	147,665
Leasehold improvement [Member]
Property, Plant and Equipment [Line Items]
Total	218,004	219,370
Construction in progress [Member]
Property, Plant and Equipment [Line Items]
Total	$ 21,059,285	$ 4,457,380

Equity (Details) - Schedule of warrants activities - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of warrants activities [Abstract]
Number of shares issuable, Begininng Balance
Weight-average exercise price, Begininng Balance
Number of shares issuable, Outstanding and exercisable	2,300,000
Weight-average exercise price, Outstanding and exercisable	$ 5.50
Number of shares issuable, Granted	2,300,000
Weight-average exercise price, Granted	$ 5.50
Number of shares issuable, Ending Balance	2,300,000
Weight-average exercise price, Ending Balance	$ 5.50

Operating leases (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Text Block [Abstract]

Schedule of balance sheet information related to operating leases

	For the year ended December 31,		For the year ended December 31,
	2020		2019
Operating lease cost	$	704,264	$	662,505
Short-term lease cost		29,007		116,728
Total lease cost	$	733,271	$	779,233

Schedule of cash flow information related to operating leases

	For the year ended		For the year ended
	December 31,		December 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	690,626	$	854,431
Supplemental lease cash flow disclosure
Operating lease right-of-use assets obtained in exchange for operating lease liabilities	$	192,395	$	1,142,321

Schedule of balance sheet information related to operating leases

	As of			As of
	December 31,			December 31,
	2020			2019
Operating lease right-of-use assets	$	898,335		$	1,280,076
Operating lease right-of-use assets – related party		17,701			37,266
Total operating lease right-of-use assets		916,036			1,317,342

Operating lease liabilities, current	$	659,807		$	793,521
Operating lease liabilities – related party, current		17,701			37,266
Operating lease liabilities, non-current		118,827			361,747
Total operating lease liabilities		796,335			1,192,534

Weighted average remaining lease term of operating leases		1.51 Years			2.36 years
Weighted average discount rate of operating leases		6.5250	%		6.5250	%

Schedule of maturity analysis of operating lease liabilities

	Operating
	Leases
2021	$	794,717
2022		26,995
2023		-
2024		-
2025		-
Thereafter		-
Total lease payment		821,712
Less: imputed interest		(25,377	)
Present value of operating lease liabilities		796,335
Less: current obligation		(677,508	)
Long-term obligation at December 31, 2020	$	118,827

Consolidated Balance Sheets - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 13,669,439	$ 3,464,262
Restricted cash, current	406,857	2,270,588
Debt investments	40,835,000
Accounts receivable, net	7,205,113	8,128,178
Notes receivable	765,967
Advances to suppliers	221,186	1,062,049
Inventories, net	3,845,091	13,088,542
Prepayments	522,808	591,031
Other current assets, net	1,128,599	224,452
Total current assets	68,600,060	28,829,102
Non-current assets:
Property, plant and equipment, net	29,123,243	13,224,761
Intangible assets, net	23,077,435	3,784,153
Operating lease right-of-use assets	898,335	1,280,076
Operating lease right-of-use assets - related party	17,701	37,266
Restricted cash, non-current	47,455	43,317
Deferred tax assets		8,542,715
VAT recoverable	21,897,063	21,954,169
Other assets	538,934	4,915,487
Total non-current assets	75,600,166	53,781,944
Total assets	144,200,226	82,611,046
Current liabilities:
Accounts payable	2,762,187	11,832,003
Notes payable	1,087,673
Accrued liabilities and other payables	21,921,614	13,739,041
Loans due within one year, less unamortized debt issuance costs	765,967	4,864,697
Operating lease liabilities, current	659,807	793,521
Operating lease liabilities – related party, current	17,701	37,266
Income taxes payable	556,137	521,648
Due to related party	5,652,833	6,242,824
Advances from customers	832,842	1,015,675
Total current liabilities	34,256,761	39,046,675
Non-current liabilities:
Long-term loans – related party		17,632,000
Deferred tax liabilities	872
Operating lease liabilities, non-current	118,827	361,747
Total non-current liabilities	119,699	17,993,747
Total liabilities	34,376,460	57,040,422
Equity:
Ordinary share, HKD0.001 par value, 380,000,000 shares authorized, nil and 111,771,000 shares issued and outstanding at December 31, 2020 and 2019, respectively		14,330
Additional paid-in capital	138,288,921	23,888,023
Statutory reserves	11,049,847	11,049,847
Accumulated deficit	(38,581,419)	(7,905,999)
Accumulated other comprehensive loss	(7,648,332)	(9,066,842)
Total Ebang International Holdings Inc. shareholders’ equity	103,126,406	17,979,359
Non-controlling interest	6,697,360	7,591,265
Total equity	109,823,766	25,570,624
Total liabilities and equity	144,200,226	82,611,046
Class A ordinary share
Equity:
Ordinary share value	11,411
Total equity	11,411
Class B ordinary share
Equity:
Ordinary share value	5,978
Total equity	$ 5,978

Statutory reserves and restricted net assets (Tables)

12 Months Ended

Dec. 31, 2020

Statutory Reserves And Restricted Net Assets [Abstract]

Schedule of PRC subsidiaries

	As of December 31 2020		As of December 31, 2019
PRC entities
Additional paid-in capital	$	23,919,850	$	23,707,488
Statutory reserves		11,049,847		11,049,847
Total restricted net assets	$	34,969,697	$	34,757,335

Goodwill and Intangible Assets Disclosure [Abstract]

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

+ References + Details

Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of intangible assets with definite useful lives

	As of December 31,			As of December 31,
	2020			2019
Land use right	$	2,927,874		$	2,742,866
Non-patent technology		470,117			440,410
Software		3,345,742			3,134,328
License		19,879,743			-
Total		26,623,476			6,317,604
Accumulated amortization		(3,546,041	)		(2,533,451	)
Intangible assets, net	$	23,077,435		$	3,784,153

Schedule of estimated future amortization expense related to intangible assets

Year
2021	$	2,664,207
2022		2,608,606
2023		2,046,532
2024		2,046,532
2025		2,046,532
Thereafter		11,665,026
Total	$	23,077,435

Accounts Receivable, Net (Details) - Schedule of accounts receivable, net - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of accounts receivable, net [Abstract]
Accounts receivable	$ 11,993,968	$ 9,900,458
Less: Allowance for doubtful accounts	(4,788,855)	(1,772,280)	$ (1,769,468)	$ (1,849,985)
Accounts receivable, net	$ 7,205,113	$ 8,128,178

Inventories, Net (Details) - Schedule of inventories - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Schedule of inventories [Abstract]
Finished goods	$ 2,230,580	$ 2,959,783
Work in process	31,303,333	48,177,240
Raw materials	28,370,424	18,131,911
Inventories, gross	61,904,337	69,268,934
Less: inventory write-down	(58,059,246)	(56,180,392)
Inventories, net	$ 3,845,091	$ 13,088,542

Segment and revenue analysis

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment and Revenue Analysis

Note 14 – Segment and revenue analysis

The Company operates in a single operating segment that includes the selling of bitcoin mining machines and related accessories, telecommunication products and providing management and maintenance services.

The following table summarizes the revenue generated from different revenue streams:

	For the year ended December 31, 2020		For the year ended December 31, 2019		For the year ended December 31, 2018
Revenue
Product sale - Bitcoin mining machines and related accessories	$	7,951,296	$	89,919,400	$	307,126,878
Product sale - Telecommunication		1,725,982		3,336,413		3,729,529
Service - Management and maintenance		9,327,023		15,804,253		8,185,386
	$	19,004,301	$	109,060,066	$	319,041,793

The following table summarizes the revenues generated from different geographic region:

	For the year ended December 31, 2020		For the year ended December 31, 2019		For the year ended December 31, 2018
Geographic region
Revenue
Mainland China	$	18,962,130	$	95,373,150	$	291,523,362
United States of America		9,338		1,407,546		6,713,837
Hong Kong		-		1,673,300		18,800,733
Other foreign countries		32,833		10,606,070		2,003,861
	$	19,004,301	$	109,060,066	$	319,041,793

Schedule of related parties

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

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+ Details

Consolidated Statements of Changes in Equity - USD ($)	Class A Ordinary Shares	Class B Ordinary Shares	Ordinary Shares	Additional Paid-in Capital	Statutory Reserves	Accumulated Deficit	Accumulated Other Comprehensive Loss	Non-controlling Interest	Total
Balance at beginning at Dec. 31, 2017				$ 29,811,812	$ 7,115,524	$ 50,740,187	$ 3,485,328	$ 5,766,794	$ 96,919,645
Balance at beginning (in Shares) at Dec. 31, 2017
Capital contribution from shareholder			$ 7,700						7,700
Capital contribution from shareholder (in Shares)			60,056,829
Issuance of ordinary shares for cash			$ 6,630	579,109					585,739
Issuance of ordinary shares for cash (in Shares)			51,714,171
Distribution to owners				(6,502,898)					(6,502,898)
Net income (loss)						(12,308,494)		494,234	(11,814,260)
Transfer to reserve					3,397,003	(3,397,003)
Foreign currency translation adjustment							(11,363,682)		(11,363,682)
Balance at ending at Dec. 31, 2018			$ 14,330	23,888,023	10,512,527	35,034,690	(7,878,354)	6,261,028	67,832,244
Balance at ending (in Shares) at Dec. 31, 2018			111,771,000
Net income (loss)						(42,403,369)		1,330,237	(41,073,132)
Transfer to reserve					537,320	(537,320)
Foreign currency translation adjustment							(1,188,488)		(1,188,488)
Balance at ending at Dec. 31, 2019			$ 14,330	23,888,023	11,049,847	(7,905,999)	(9,066,842)	7,591,265	25,570,624
Balance at ending (in Shares) at Dec. 31, 2019			111,771,000
Net income (loss)						(30,675,420)		(1,435,504)	(32,110,924)
Foreign currency translation adjustment							1,418,510	541,599	1,960,109
Balance at ending at Dec. 31, 2020	$ 11,411	$ 5,978		138,288,921	$ 11,049,847	$ (38,581,419)	$ (7,648,332)	$ 6,697,360	109,823,766
Balance at ending (in Shares) at Dec. 31, 2020	89,009,554	46,625,783
Re-designation of ordinary shares to Class A and Class B ordinary shares immediately prior to the completion of initial public offering	$ 8,352	$ 5,978	$ (14,330)
Re-designation of ordinary shares to Class A and Class B ordinary shares immediately prior to the completion of initial public offering (in Shares)	65,145,217	46,625,783	(111,771,000)
Share issuance upon initial public offering, net of issuance cost	$ 2,470			91,682,290					91,684,760
Share issuance upon initial public offering, net of issuance cost (in Shares)	19,264,337
Share issuance following initial public offering, net of issuance cost	$ 589			22,506,246					22,506,835
Share issuance following initial public offering, net of issuance cost (in Shares)	4,600,000
Increase in capital from disposal of subsidiary				$ 212,362					$ 212,362

Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2020

Name of related parties		Relationship with the Company
Dong Hu		Chief executive officer (CEO) of the Company
Hong Kong Dewang Limited		Wholly owned by Zhengqian Jiang, father-in-law of Dong Hu
Zhejiang Wansi Computer Manufacturing Company Limited		68% owned by Aiqun Jiang, spouse of Dong Hu
Hangzhou Yibang Zhiyang Technology Co., Ltd.		Controlled by Dong Hu
Top Max Limited		Controlled by Dong Hu
Shubo Qian		Brother-in-law of Dong Hu
Jun Hu		Sister of Dong Hu

Schedule of long-term loans from related party

		As of December 31, 2020				As of December 31, 2019
Hong Kong Dewang Limited		$	-			$	17,632,000

Schedule of due to related party

	As of		As of
	December 31,		December 31,
	2020		2019
Zhejiang Wansi Computer Manufacturing Company Limited	$	5,652,833	$	6,242,824

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2020	Dec. 31, 2019
Ordinary share, par value (in Dollars per share)	$ 0.001	$ 0.001
Ordinary share, shares authorized	380,000,000	380,000,000
Ordinary share, shares issued		111,771,000
Ordinary share, shares outstanding		111,771,000
Class A ordinary share
Ordinary share, par value (in Dollars per share)	$ 0.001	$ 0.001
Ordinary share, shares authorized	333,374,217	333,374,217
Ordinary share, shares issued	89,009,554
Ordinary share, shares outstanding	89,009,554
Class B ordinary share
Ordinary share, par value (in Dollars per share)	$ 0.001	$ 0.001
Ordinary share, shares authorized	46,625,783	46,625,783
Ordinary share, shares issued	46,625,783
Ordinary share, shares outstanding	46,625,783

Document And Entity Information - shares	12 Months Ended
Document And Entity Information - shares	Dec. 31, 2020	Apr. 29, 2021
Document Information Line Items
Entity Registrant Name	Ebang International Holdings Inc.
Document Type	20-F
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0001799290
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Well-known Seasoned Issuer	No
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Ex Transition Period	true
Document Annual Report	true
Document Shell Company Report	false
Document Transition Report	false
Entity File Number	333-237843
Entity Incorporation, State or Country Code	E9
Entity Interactive Data Current	Yes
Class A ordinary shares
Document Information Line Items
Entity Common Stock, Shares Outstanding		139,209,554
Class B ordinary Shares
Document Information Line Items
Entity Common Stock, Shares Outstanding		46,625,783

Debt investments (Details) - USD ($) $ in Millions	12 Months Ended
Debt investments (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt investments (Details) [Line Items]
Marketable bonds	$ 104.0
Unmarketable bonds	63.0
Interest income	0.8
Redeemed Bonds [Member]
Debt investments (Details) [Line Items]
Redeemed amount	$ 41.0

Intangible Assets, Net

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net

Note 7 – Intangible assets, net

The following table presents the Company’s intangible assets as of the respective balance sheet dates:

	As of December 31,			As of December 31,
	2020			2019
Land use right	$	2,927,874		$	2,742,866
Non-patent technology		470,117			440,410
Software		3,345,742			3,134,328
License		19,879,743			-
Total		26,623,476			6,317,604
Accumulated amortization		(3,546,041	)		(2,533,451	)
Intangible assets, net	$	23,077,435		$	3,784,153

During the year ended December 31, 2020, the Company paid approximately $12 million in cash and $8 million on credit primarily to obtain an exclusive license of a proprietary patent owned by Circle Line International Limited. The license grants the Company exclusive right to use the patent in Korea and export the product derived from such patent from Korea to other countries.

The land use right with original cost of RMB18,117,700 (approximately $2,600,000) judicially frozen by the court from October 11, 2018 has been released on January 9, 2020. Please refer to note 17 – Contingencies for more details.

Amortization expense for the years ended December 31, 2020, 2019 and 2018 amounted to $805,220, $861,023 and $897,079, respectively.

Estimated future amortization expense related to intangible assets held as of December 31, 2020:

Year
2021	$	2,664,207
2022		2,608,606
2023		2,046,532
2024		2,046,532
2025		2,046,532
Thereafter		11,665,026
Total	$	23,077,435

Segment and revenue analysis (Details) - Schedule of revenue - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue
Total revenue	$ 19,004,301	$ 109,060,066	$ 319,041,793
Product sale - Bitcoin mining machines and related accessories [Member]
Revenue
Total revenue	7,951,296	89,919,400	307,126,878
Product sale - Telecommunication [Member]
Revenue
Total revenue	1,725,982	3,336,413	3,729,529
Service - Management and maintenance [Member]
Revenue
Total revenue	$ 9,327,023	$ 15,804,253	$ 8,185,386

Schedule of accounts receivable, net

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Accounts Receivable, Net (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

	As of December 31,			As of December 31,
	2020			2019
Accounts receivable	$	11,993,968		$	9,900,458
Less: Allowance for doubtful accounts		(4,788,855	)		(1,772,280	)
Accounts receivable, net	$	7,205,113		$	8,128,178

Schedule of allowance for doubtful accounts

	For the year ended December 31,		For the year ended December 31,			For the year ended December 31,
	2020		2019			2018
Allowance for doubtful accounts, beginning balance	$	1,772,280	$	1,769,468		$	1,849,985
Add: Provision for doubtful accounts		2,740,639		26,297			19,778
Effects of foreign exchange rate		275,936		(23,485	)		(100,295	)
Allowance for doubtful accounts, ending balance	$	4,788,855	$	1,772,280		$	1,769,468

Income Taxes (Details) - Schedule of provision for income taxes - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of provision for income taxes [Abstract]
Current income tax expense	$ 623,938	$ 533,078	$ 10,571,880
Deferred tax expense (benefit)	8,627,604	(132,767)	(9,672,294)
Income taxes provision	$ 9,251,542	$ 400,311	$ 899,586

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Statutory reserves and restricted net assets (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Statutory Reserves And Restricted Net Assets [Abstract]
Restricted net assets	$ 34,969,697	$ 34,757,335

Operating leases (Details) - Schedule of maturity analysis of operating lease liabilities	Dec. 31, 2020 USD ($)
Schedule of maturity analysis of operating lease liabilities [Abstract]
2021	$ 794,717
2022	26,995
2023
2024
2025
Thereafter
Total lease payment	821,712
Less: imputed interest	(25,377)
Present value of operating lease liabilities	796,335
Less: current obligation	(677,508)
Long-term obligation at December 31, 2020	$ 118,827

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income taxes

Note 10 – Income taxes

Cayman Islands

Under the current laws of the Cayman Islands, Ebang International is not subject to tax on income or capital gain. Additionally, upon payments of dividends to the shareholders, no Cayman Islands withholding tax will be imposed.

British Virgin Islands (“BVI”)

The Company’s subsidiaries, Orient Plus, Power Ebang and Leader Forever, are incorporated in the BVI and under the current laws of the BVI, Orient Plus, Power Ebang and Leader Forever are not subject to tax on income or capital gain, In addition, payments of dividend by these subsidiaries to their shareholders are not subject to withholding tax in the BVI.

Hong Kong

HK Ebang Communications, HK Ebang Technology and HK Ebang Information are incorporated in Hong Kong and are subject to Hong Kong Profits Tax on the taxable income as reported in its statutory financial statements adjusted in accordance with relevant Hong Kong tax laws. The applicable tax rate is 8.25% on assessable profits arising in or derived from Hong Kong up to HKD2,000,000 and 16.5% on any part of assessable profits over HKD2,000,000. HK Ebang Communications, HK Ebang Technology and HK Ebang Information did not make any provisions for Hong Kong profit tax as there were no assessable profits derived from or earned in Hong Kong since inception.

PRC

Ebang Hongfa, Ebang Hongling, Wuhai Ebang, Zhejiang Ebang, Ebang IT, Yunnan Ebang, Hangzhou Yiquansheng, Hangzhou Dewang and Ebang Jusheng are governed by the income tax laws of the PRC and the income tax provision in respect to operations in the PRC is calculated at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect thereof. Under the Enterprise Income Tax Laws of the PRC (the “EIT Laws”), domestic enterprises and Foreign Investment Enterprises (the “FIE”) are usually subject to a unified 25% enterprise income tax rate while preferential tax rates, tax holidays and even tax exemption may be granted on case-by-case basis. EIT grants preferential tax treatment to certain High and New Technology Enterprises (“HNTEs”). Under this preferential tax treatment, HNTEs are entitled to an income tax rate of 15%, subject to a requirement that they re-apply for HNTE status every three years. Zhejiang Ebang obtained the “high-tech enterprise” tax status in November 2017, which reduced its statutory income tax rate to 15% from November 2017 to November 2020. Zhejiang Ebang further re-applied and obtained the HNTE status in December 2020. Hangzhou Dewang obtained the “high-tech enterprise” tax status in November 2018, which reduced its statutory income tax rate to 15% from November 2018 to November 2021. In addition, Ebang IT, was qualified as a software enterprise in 2018, and thus was entitled to a five-year tax holiday (full exemption for the first two years and a 50% reduction in the statutory income tax rate for the following three years) in 2018 until its software enterprise qualification expired in 2019.

Reconciliation of the differences between statutory income tax rate and the effective tax rate

The reconciliation of tax computed by applying the statutory income tax rate of 25% for the years ended December 31, 2020, 2019 and 2018 applicable to the PRC operations to income tax expenses is as follows:

	For the year ended December 31,			For the year ended December 31,			For the year ended December 31,
	2020			2019			2018
Loss before income taxes		25.00	%		25.00	%		25.00	%
Effect of expenses not deductible for tax purposes		0.00	%		(0.03	)%		(0.39	)%
Effect of additional deduction of research and development expense		6.70	%		6.33	%		76.11	%
Effect of income tax exemptions and reliefs		(0.70	)%		0.01	%		23.18	%
Effect of valuation allowance on deferred income tax assets		(67.10	)%		(29.70	)%		(116.08	)%
Income tax difference under different tax jurisdictions		(2.20	)%		-			-
Others		(2.10	)%		(2.59	)%		(16.06	)%
Total		(40.40	)%		(0.98	)%		(8.24	)%

Significant components of the provision for income taxes are as follows:

	For the year ended December 31, 2020		For the year ended December 31, 2019			For the year ended December 31, 2018
Current income tax expense	$	623,938	$	533,078		$	10,571,880
Deferred tax expense (benefit)		8,627,604		(132,767	)		(9,672,294	)
Income taxes provision	$	9,251,542	$	400,311		$	899,586

For the purpose of presentation in the consolidated balance sheets, deferred income tax assets and liabilities have been offset. Significant component of deferred tax assets and liabilities are as follows:

	As of December 31,			As of December 31,
	2020			2019
Provision for doubtful accounts	$	8,701,439		$	8,530,250
Net operating loss carryforward		5,036,643			7,120,737
Accrued expenses and others		3,510,029			287,467
		17,248,111			15,938,454
Less: valuation allowance		(17,095,950	)		(7,120,737	)

Deferred tax assets	$	152,161		$	8,817,717

Intangible assets	$	153,033		$	263,278
Revenue and expense		-			11,724
Deferred tax liabilities	$	153,033		$	275,002

Total deferred tax assets (liabilities)	$	(872	)	$	8,542,715

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the cumulative earnings and projected future taxable income in making this assessment. Recovery of substantially all of the Company’s deferred tax assets is dependent upon the generation of future income, exclusive of reversing taxable temporary differences.

Uncertain tax positions

The PRC tax authorities conduct periodic and ad hoc tax filing reviews on business enterprises operating in the PRC after those enterprises complete their relevant tax filings. In general, the PRC tax authorities have up to five years to conduct examinations of the tax filings of the Company’s PRC entities. Accordingly, the PRC subsidiaries’ tax years of 2015 through 2019 remain open to examination by the respective tax authorities. It is therefore uncertain as to whether the PRC tax authorities may take different views about the Company’s PRC entities’ tax filings, which may lead to additional tax liabilities.

The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of December 31, 2020 and 2019, the Company did not have any significant unrecognized uncertain tax positions.

Principles of consolidation

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Condensed financial information of the parent company (Details) - Schedule of condensed statements of operations and comprehensive loss - Parent Company [Member] - Parent [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Statement of Income Captions [Line Items]
General and administrative expenses	$ 6,401,580	$ 385,865	$ 249,107
Total operating expenses	6,401,580	385,865	249,107
Loss from operations	(6,401,580)	(385,865)	(249,107)
Interest income	798,328	4	12
Other expenses	(4,162)	(1,390)	(724)
Exchange gain	340,643	529
Share of loss from subsidiaries	(25,408,649)	(42,016,647)	(12,058,675)
Net loss	(30,675,420)	(42,403,369)	(12,308,494)
Comprehensive loss
Net loss	(30,675,420)	(42,403,369)	(12,308,494)
Other comprehensive income (loss):
Foreign currency translation adjustment	1,418,510	(1,188,488)	(11,363,682)
Comprehensive loss	$ (29,256,910)	$ (43,591,857)	$ (23,672,176)

Debt investments (Details) - Schedule of debt investments - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Schedule of debt investments [Abstract]
Available-for-sale debt investments	$ 40,835,000

Credit Risk and Major Customers (Details)	12 Months Ended
Credit Risk and Major Customers (Details)	Dec. 31, 2020
Accounts Receivable [Member]
Credit Risk and Major Customers (Details) [Line Items]
Concentration of credit risk, percentage	10.00%

Accrued Expenses and Other Payables (Details) - Schedule of components of accrued expenses and other payables - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Schedule of components of accrued expenses and other payables [Abstract]
Salary payable	$ 794,022	$ 1,014,296
Interest payable		772,218
Payable to consultants	1,527,340	1,576,278
License payable	7,951,898
Refundable deposit to customers	1,230,142	6,255,741
Payable to property, plant and equipment suppliers	9,375,507	3,008,802
Other accrued liabilities	1,042,705	1,111,706
Total accrued liabilities and other payables	$ 21,921,614	$ 13,739,041

Accounting Policies, by Policy (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Basis of presentation

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for information pursuant to the rules and regulations of the SEC.

The consolidated financial statements include the financial statements of the Company and its subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation.

Reclassification

Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on net earnings or equity.

Non-controlling Interest

Non-controlling interest on the consolidated balance sheets is resulted from the consolidation of Hangzhou Dewang, a 51.05% owned subsidiary. The portion of the income or loss applicable to the non-controlling interest in subsidiary is reflected in the consolidated statements of operations and comprehensive loss.

Use of estimates and assumptions

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the balance sheet date and revenues and expenses during the reporting periods. Significant accounting estimates reflected in the Company’s consolidated financial statements including, but not limited to, estimates for inventory write-down, useful lives and impairment of long-lived assets, income taxes including valuation allowance for deferred tax assets, and allowance for doubtful accounts. Changes in facts and circumstances may result in revised estimates. Actual results could differ from those estimates, and as such, differences may be material to the consolidated financial statements.

Foreign currency translation and transaction

The accompanying consolidated financial statements are presented in the United States dollar (“$”), which is the reporting currency of the Company. The functional currency of HK Ebang Communications and HK Ebang Information is United State dollars, and the functional currency of Ebang International, HK Ebang Technology and all BVI entities is Hong Kong dollar (“HKD”). The functional currency of the PRC subsidiaries is Renminbi (“RMB”).

Assets and liabilities denominated in currencies other than the reporting currency are translated into the reporting currency at the rates of exchange ruling at the balance sheet date. Translation gains and losses are recognized in the consolidated statements of operations and comprehensive loss as other comprehensive income or loss. Transactions in currencies other than the reporting currency are measured and recorded in the reporting currency at the exchange rate prevailing on the transaction date. The cumulative gain or loss from foreign currency transactions is reflected in the consolidated statements of operations and comprehensive loss as other income (other expenses).

For Ebang International, HK Ebang Technology and all BVI entities, except for the equity, the balance sheet accounts at December 31, 2020 and 2019 and results of operations and cash flows for the years ended December 31, 2020, 2019 and 2018 were translated at HKD7.8 to $1.00. For all PRC subsidiaries, the balance sheet accounts, with the exception of equity, at December 31, 2020 and 2019 were translated at RMB6.5277 and RMB6.9680 to $1.00, respectively. The equity accounts were translated at their historical rate. The average translation rates applied to statements of operations for the years ended December 31, 2020, 2019 and 2018 were RMB6.9001, RMB6.9088 and RMB6.6146 to $1.00, respectively. Cash flows were also translated at average translation rates for the periods, therefore, amounts reported on the statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets.

Cash and cash equivalents

Cash and cash equivalents consist of cash on hand, demand deposits and time deposits placed with banks or other financial institutions and have original maturities of less than three months.

Restricted cash

Restricted cash mainly represents the bank deposit used to pledge the bank acceptance notes and bank deposit pledged in exchange for guarantee services. It also represents the bank deposits judicially frozen by the court. As of December 31, 2020 and 2019, the Company had restricted cash balance of $454,312 and $2,313,905, respectively. See Note 17 – Contingencies for more details.

Notes receivable and notes payable

Notes receivable, generally due within twelve months and with specific payment terms and definitive due dates, are comprised of the bank acceptance notes issued by some customers to pay certain outstanding receivable balances to the Company. Notes payable represents bank acceptance notes issued by the Company to its vendors in the normal course of business. Bank acceptance notes do not bear interest. As of December 31, 2020 and 2019, notes receivables in the amount of $765,967 and nil, respectively, were pledged to endorsing banks to issue bank acceptance notes payable.

Debt investments

Debt investments include the Company's investments in bonds and such investments are recorded as available-for-sale securities. Available-for-sale securities are reported at fair value, with unrealized gains and losses recorded in accumulated other comprehensive loss on the consolidated balance sheets. Realized gains and losses from the sale of available-for-sale securities are determined on an aggregate approach basis and are included in the consolidated statements of operations and comprehensive loss.

If the fair value of an available-for-sale debt security is below its amortized cost, the Company assesses whether it intends to sell the security or if it is more likely than not the Company will be required to sell the security before recovery. If either of those two conditions is met, the Company would recognize a charge in earnings equal to the entire difference between the security's amortized cost basis and its fair value. If the Company does not intend to sell a security or it is not more likely than not that it will be required to sell the security before recovery, the unrealized loss is separated into an amount representing the credit loss, which is recognized in earnings, and the amount related to all other factors, which is recognized in accumulated other comprehensive loss.

Premiums and discounts are amortized or accreted over the life of the related available-for-sale security as an adjustment to yield using the effective-interest method. Interest income are recognized when earned.

Current expected credit losses

In 2016, the FASB issued ASU No. 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (including all amendment subsequently issued thereto, “ASC Topic 326”), which amends previously issued guidance regarding the impairment of financial instruments by creating an impairment model that is based on expected losses rather than incurred losses. The Company adopted this ASC Topic 326 on January 1, 2020 using a modified retrospective approach. The adoption did not have a material impact on the Company’s previously reported consolidated financial statements in any prior period nor did it result in a cumulative effect adjustment to beginning accumulated deficit. As of January 1, 2020, the Company’s financial assets, primarily accounts receivable and other receivable, are within the scope of ASC Topic 326. The Company has identified the relevant risk characteristics of its customers and the related receivables and other current assets which include type of the products and services the Company provides, nature of the customers or a combination of these characteristics. Receivables with similar risk characteristics have been grouped into pools. For each pool, the Company considers the historical credit loss experience, current economic conditions, supportable forecasts of future economic conditions, and any recoveries in assessing the lifetime expected credit losses. Other key factors that influence the expected credit loss analysis include customer demographics, payment terms offered in the normal course of business to customers, and industry-specific factors that could impact the Company’s receivables. Additionally, external data and macroeconomic factors are also considered.

Inventories, net

Inventories, consisting of finished goods, work in process, and raw materials. Inventories are stated at the lower of cost and net realizable value. Cost of inventory is determined using the weighted average cost method. Adjustments are recorded to write down the cost of inventory to the estimated net realizable value due to slow-moving and obsolete inventory, which is dependent upon factors such as historical and forecasted consumer demand, and promotional environment. The Company takes ownership, risks and rewards of the products purchased.

Property, plant and equipment, net

Property, plant and equipment are stated at cost less accumulated depreciation. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The estimated useful lives are as follows:

Buildings		20 years
Computer software		10 years
Leasehold improvements		Over the shorter of the lease term or expected useful lives
Office equipment		3-5 years
Motor vehicles		5 years
Mechanical equipment		3-10 years

The cost and related accumulated depreciation of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the consolidated statements of operations and comprehensive loss. Expenditures for maintenance and repairs are charged to earnings as incurred, while additions, renewals and betterments, which are expected to extend the useful life of assets, are capitalized.

Construction in progress represents assets under construction. All direct costs relating to the construction are capitalized as construction in progress. Construction in progress is not depreciated until the asset is placed in service.

Intangible assets, net

The Company’s intangible assets with definite useful lives primarily consist of software, non-patent technology, license and land use right. The Company typically amortizes its software, non-patent technology and license with definite useful lives on a straight-line basis over the shorter of the contractual terms or the estimated useful lives.

According to the law of PRC, the government owns all the land in the PRC. Companies or individuals are authorized to possess and use the land only through land use rights granted by the Chinese government for a specified period of time. The Company amortizes its land use rights using the straight-line method over the periods the rights are granted.

The estimated useful lives are as follows:

Land use right		50 years
Software		65 months
License		10 year
Non-patent technology		1 year

Impairment for long-lived assets

Long-lived assets, including property, plant and equipment, right-of-use assets and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected to generate and recognize an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified, the Company would reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when available and appropriate, to comparable market values. For the years ended December 31, 2020, 2019 and 2018, no impairment of long-lived assets was recognized.

Fair value measurement

The accounting standard regarding fair value of financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial instruments held by the Company.

The accounting standards define fair value, establish a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures. The three levels are defined as follow:

●

Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

●

Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.

●

Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. Unobservable inputs reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.

ASC 820 describes three main approaches to measuring the fair value of assets and liabilities:

(1) market approach; (2) income approach; and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset.

In August 2018, the FASB issued ASU No. 2018-13 “Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement”. This ASU modifies the disclosures related to recurring and nonrecurring fair value measurements. Disclosures related to the transfer of assets between Level 1 and Level 2 hierarchies have been eliminated and various additional disclosures related to Level 3 fair value measurements have been added, modified or removed. The Company adopted this ASU on January 1, 2020 and it did not have a material impact on its consolidated financial statements.

The financial asset carried at fair value on a recurring basis at December 31, 2020 and 2019 is as follows:

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Balance

Debt investments
As of December 31, 2020	$	-		40,835,000		-		40,835,000
As of December 31, 2019	$	-		-		-		-

Financial instruments included in current assets and current liabilities except for debt investments, operating lease liability – related party, current and due to related party are reported in the consolidated balance sheets at face value or cost, which approximate fair value because of the short period of time between the origination of such instruments and their expected realization and their current market rates of interest.

Related party transactions

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Parties are also considered to be related if they are subject to common control or common significant influence. Related parties may be individuals or corporate entities. A transaction is considered to be a related party transaction when there is a transfer of resources or obligations between related parties.

Transactions involving related parties cannot be presumed to be carried out on an arm’s-length basis, as the requisite conditions of competitive, free market dealings may not exist. Representations about transactions with related parties, if made, shall not imply that the related party transactions were consummated on terms equivalent to those that prevail in arm’s-length transactions unless such representations can be substantiated. It is not, however, practical to determine the fair value of amounts due from/to related parties due to their related party nature.

Revenue recognition

The Company has adopted the new revenue standard, ASC 606, Revenue from Contracts with Customers (Topic 606) for all periods presented. Consistent with the criteria of Topic 606, the Company recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to receive in exchange for those goods or services. Value-added tax that the Company collects concurrent with revenue-producing activities is excluded from revenue.

Products revenue

The Company generates revenue primarily from the sale of bitcoin mining machines and related accessories directly to a customer, such as a business or individual engaged in bitcoin mining activities. The Company recognizes revenue at a point in time when the control of the products has been transferred to customers. The transfer of control is considered complete when products have been picked up by or shipped to customers. The Company’s sales arrangements for bitcoin mining machines usually require a full prepayment before the delivery of products. The advance payment is not considered a significant financing component because the period between the Company transfers a promised good to a customer and when the customer pays for that good is short. As the bitcoin price experienced a significant downtrend during 2018, the Company started to offer credit sales to certain customers. The payment terms under credit sales generally consist of full payment of consideration within one year after shipping date.

The Company also generates revenue from the sale of telecommunication products directly to a customer, such as a business or individual engaged in telecommunication businesses. The Company recognizes revenue at a point in time when products are delivered and customer acceptance is made. For the sales arrangements of telecommunications products, the Company generally requires payment upon issuance of invoices.

The Company elected to account for shipping and handling fees that occur after the customer has obtained control of goods, for instance, free onboard shipping point arrangements, as a fulfilment cost and accrues for such costs.

Service revenue

The Company also generate a small portion of revenue from management and maintenance services under separate contracts. Revenue from management and maintenance services include service fees for provision of mining machine hosting services to customers, and provision of maintenance service. Revenue from the maintenance service to the customer is recognized at a point in time when services are provided. Revenue from the management service to the customer is recognized as the performance obligation is satisfied over time over the service period.

Revenue disaggregation

Management has concluded that the disaggregation level is the same under both the revenue standard and the segment reporting standard. Revenue under the segment reporting standard is measured on the same basis as under the revenue standard. See Note 14 for information regarding revenue disaggregation by product lines and countries.

Contract liabilities

Contract liabilities are recorded when consideration is received from a customer prior to transferring the goods or services to the customer or other conditions under the terms of a sales contract. As of December 31, 2020 and 2019, the Company recorded contract liabilities of $832,842 and $1,015,675, respectively, which was presented as advances from customers on the accompanying consolidated balance sheets. During the years ended December 31, 2020, 2019 and 2018, the Company recognized $279,423, $1,832,391 and $121,604,493, of contract liabilities as revenue, respectively.

Segment reporting

The Company uses the “management approach” in determining reportable operating segments. The management approach considers the internal organization and reporting used by the Company’s chief operating decision maker for making operating decisions and assessing performance as the source for determining the Company’s reportable segments. The Company’s chief operating decision maker has been identified as the chief executive officer of the Company who reviews financial information based on U.S. GAAP. The chief operating decision maker now reviews results analyzed by marketing channel. This analysis is only presented at the revenue level with no allocation of direct or indirect costs. Consequently, the Company has determined that it has only one operating segment.

Selling and handling expenses

Selling and handling costs amounted to $96,997, $97,719 and $1,233,527 for the years ended December 31, 2020, 2019 and 2018, respectively. Selling and handling costs are expensed as incurred and included in selling expenses.

General and administrative expenses

General and administrative expenses consist primarily of research and development expenses, salary and welfare for general and administrative personnel, rental expenses, depreciation and amortization in associated with general and administrative personnel, allowance for doubtful accounts, entertainment expense, general office expense and professional service fees.

The Company recognizes research and development expenses as expense when incurred. Research and development expenses amounted to $8,459,765, $13,367,396 and $43,488,851 for the years ended December 31, 2020, 2019 and 2018, respectively.

Operating leases

Prior to the adoption of ASC 842 on January 1, 2019:

Leases, mainly leases of factory buildings, offices and employee dormitories, where substantially all the rewards and risks of ownership of assets remain with the lessor are accounted for as operating leases. Payments made under operating leases are recognized as an expense on a straight-line basis over the lease term. The Company had no finance leases for any of the periods stated herein.

Upon and hereafter the adoption of ASC 842 on January 1, 2019:

The Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right-of-use (“ROU”) assets, operating lease liability, and operating lease liability, non-current in the Company’s consolidated balance sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. When determining the lease term, the Company includes options to extend or terminate the lease when it is reasonably certain that it will exercise that option, if any. As the Company’s leases do not provide an implicit rate, the Company used an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company has elected to adopt the following lease policies in conjunction with the adoption of ASU 2016-02: (i) for leases that have lease terms of 12 months or less and does not include a purchase option that is reasonably certain to exercise, the Company elected not to apply ASC 842 recognition requirements; and (ii) the Company elected to apply the package of practical expedients for existing arrangements entered into prior to January 1, 2019 to not reassess (a) whether an arrangement is or contains a lease, (b) the lease classification applied to existing leases, and(c) initial direct costs.

Government grants

Government grants represent cash subsidies received from PRC government. Cash subsidies which have no defined rules and regulations to govern the criteria necessary for companies to enjoy the benefits are recognized when received. Such subsidies are generally provided as incentives from the local government to encourage the expansion of local business. Total government grants received amounted to $4,006,567, $6,298,893 and $798,680 for the years ended December 31, 2020, 2019 and 2018, respectively.

Value-added taxes

Revenue is recognized net of value-added taxes (“VAT”). VAT is based on gross sales price and the VAT rate applicable to the Company is 17% for the period from the beginning of 2018 till the end of April 2018, then changed to 16% from May 2018 to the end of March 2019, and changed to 13% since April 2019. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded as VAT payable if output VAT is larger than input VAT and is recorded as VAT recoverable if input VAT is larger than output VAT. All of the VAT returns filed by the Company’s subsidiaries in China, have been and remain subject to examination by the tax authorities.

Pursuant to Caishui (2011) No. 100 issued by the State Tax Bureau of the PRC, Zhejiang Ebang and Ebang IT are qualified as enterprises selling self-developed software products and enjoying a tax refund for the excess of 3% of their actual tax burden after the VAT is levied at the 17% or 16% or 13% tax rate since January 2011. Tax refund is recognized when received. During the years ended December 31, 2020, 2019 and 2018, total VAT refund received was nil, $9,138 and $27,368,030 from the sales of bitcoin mining machine, respectively.

Income taxes

The Company accounts for current income taxes in accordance with the laws of the relevant tax authorities. The charge for taxation is based on the results for the fiscal year as adjusted for items, which are non-assessable or disallowed. It is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date.

Deferred taxes are accounted for using the asset and liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the consolidated financial statements and the corresponding tax basis used in the computation of assessable tax profit. In principle, deferred tax liabilities are recognized for all taxable temporary differences. Deferred tax assets are recognized to the extent that it is probable that taxable profit will be available against which deductible temporary differences can be utilized. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities.

An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the “more likely than not” test, no tax benefit is recorded. No penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred.

Comprehensive loss

Comprehensive loss consists of two components, net loss and other comprehensive loss. Other comprehensive loss refers to revenues, expenses, gains and losses that under GAAP are recorded as an element of shareholders’ equity but are excluded from net loss. Other comprehensive loss consists of a foreign currency translation adjustment resulting from the Company not using the United States dollar as its functional currencies.

Earnings per share

The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share”. ASC 260 requires companies to present basic and diluted EPS. Basic EPS is measured as net income (loss) attributable to Ebang International Holdings Inc. divided by the weighted average ordinary share outstanding for the period. Diluted EPS presents the dilutive effect on a per share basis of the potential ordinary shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential ordinary shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. As the Company recognized a net loss for the year ended December 31, 2020, the outstanding warrants were not recognized in the diluted EPS calculations as they would be antidilutive. There were no dilutive shares or other instruments outstanding as of December 31, 2019 and 2018.

Statutory reserves

Pursuant to the laws applicable to the PRC, PRC entities must make appropriations from after-tax profit to the non-distributable “statutory surplus reserve fund”. Subject to certain cumulative limits, the “statutory surplus reserve fund” requires annual appropriations of 10% of after-tax profit until the aggregated appropriations reach 50% of the registered capital (as determined under accounting principles generally accepted in the PRC (“PRC GAAP”) at each year-end). For foreign invested enterprises and joint ventures in the PRC, annual appropriations should be made to the “reserve fund”. For foreign invested enterprises, the annual appropriation for the “reserve fund” cannot be less than 10% of after-tax profits until the aggregated appropriations reach 50% of the registered capital (as determined under PRC GAAP at each year-end). If the Company has accumulated loss from prior periods, the Company is able to use the current period net income after tax to offset against the accumulate loss.

Concentration of credit risk

Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company places the cash and cash equivalents with financial institutions with high credit ratings and quality.

The Company conducts credit evaluations of customers, and generally do not require collateral or other security from its customers. The Company establishes an allowance for doubtful accounts primarily based upon various factors surrounding the credit risk of specific customers and general economic conditions, refer to the current expected credit loss policy.

Recently issued accounting pronouncements

In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes”. ASU 2019-12 simplifies the accounting for income taxes by removing exceptions within the general principles of Topic 740 regarding the calculation of deferred tax liabilities, the incremental approach for intraperiod tax allocation, and calculating income taxes in an interim period. In addition, the ASU adds clarifications to the accounting for franchise tax (or similar tax), which is partially based on income, evaluating tax basis of goodwill recognized from a business combination, and reflecting the effect of any enacted changes in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date. The ASU is effective for fiscal years beginning after December 15, 2020, and will be applied either retrospectively or prospectively based upon the applicable amendments. Early adoption is permitted. The adoption of this guidance will not have a material impact on the Company’s consolidated financial statements.

Except as mentioned above, the Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements.

Operating leases (Details) - Schedule of balance sheet information related to operating leases - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Schedule of balance sheet information related to operating leases [Abstract]
Operating lease right-of-use assets	$ 898,335	$ 1,280,076
Operating lease right-of-use assets – related party	17,701	37,266
Total operating lease right-of-use assets	916,036	1,317,342
Operating lease liabilities, current	659,807	793,521
Operating lease liabilities – related party, current	17,701	37,266
Operating lease liabilities, non-current	118,827	361,747
Total operating lease liabilities	$ 796,335	$ 1,192,534
Weighted average remaining lease term of operating leases	1 year 186 days	2 years 131 days
Weighted average discount rate of operating leases	6.525%	6.525%

Statutory reserves and restricted net assets

12 Months Ended

Dec. 31, 2020

Statutory Reserves And Restricted Net Assets [Abstract]

Statutory reserves and restricted net assets

Note 13 – Statutory reserves and restricted net assets

As a result of the PRC laws and regulations and the requirement that distributions by PRC entities can only be paid out of distributable profits computed in accordance with PRC GAAP, the PRC entities are restricted from transferring a portion of their net assets to the Company. Amounts restricted include paid-in capital, additional paid-in capital, and the statutory reserves of the Company’s PRC subsidiaries.

	As of December 31 2020		As of December 31, 2019
PRC entities
Additional paid-in capital	$	23,919,850	$	23,707,488
Statutory reserves		11,049,847		11,049,847
Total restricted net assets	$	34,969,697	$	34,757,335

As of December 31, 2020 and 2019, total restricted net assets were $34,969,697 and $34,757,335, respectively.

Condensed financial information of the parent company

12 Months Ended

Dec. 31, 2020

Condensed Financial Information Disclosure [Abstract]

Condensed financial information of the parent company

Note 19 – Condensed financial information of the parent company

The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance with Securities and Exchange Commission Regulation S-X Rule 5-04 and concluded that it was applicable for the Company to disclose the financial statements for the parent company.

The following condensed financial statements of the Parent Company have been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the Parent Company used the equity method to account for its investment in its subsidiaries. The Parent Company and its subsidiaries were included in the consolidated financial statements whereby the inter-company balances and transactions were eliminated upon consolidation. The Parent Company’s share of loss from its subsidiaries is reported as “share of loss from subsidiaries” in the condensed financial statements.

The Parent Company is a Cayman Islands company and, therefore, is not subjected to income taxes for all years presented. The footnote disclosures contain supplemental information relating to the operations of the Company and, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company. Certain information and footnote disclosures normally included in financial statements prepared in accordance with US GAAP have been condensed or omitted.

The subsidiaries did not pay any dividend to the Company for the years presents. As of December 31, 2020 and 2019, there were no material commitments or contingencies, significant provisions for long-term obligations or guarantees of the Company, except for those which have been separately disclosed in the consolidated financial statements, if any.

(a) Condensed balance sheets

	December 31,			December 31,
	2020			2019
Assets
Current assets:
Cash and cash equivalents	$	8,318,219		$	21,770
Debt investments		40,835,000			-
Other current assets, net		868,949			-
Due from subsidiaries		46,448,162			-
Total current assets		96,470,330			21,770

Non-current assets:
Intangible assets, net		19,714,079			-
Investment in subsidiaries		(5,030,523	)		18,022,460
Total non-current assets		14,683,556			18,022,460

Total assets	$	111,153,886		$	18,044,230

Liabilities and Shareholders’ Equity

Current liabilities:
Accrued liabilities and other payables	$	8,027,480			-
Due to subsidiaries		-		$	64,871
Total current liabilities		8,027,480			64,871

Total liabilities	$	8,027,480		$	64,871

Shareholders’ equity:
Ordinary share, HKD0.001 par value, 380,000,000 shares authorized, nil and 111,771,000 shares issued and outstanding at December 31, 2020 and 2019, respectively		-			14,330
Class A ordinary share, HKD0.001 par value, 333,374,217 shares authorized, 89,009,554 and nil shares issued and outstanding as of December 31, 2020 and 2019, respectively		11,411			-
Class B ordinary share, HKD0.001 par value, 46,625,783 shares authorized, 46,625,783 and nil shares issued and outstanding as of December 31, 2020 and 2019, respectively		5,978			-
Additional paid-in capital		138,288,921			23,888,023
Accumulated deficit		(38,581,419	)		(7,905,999	)
Statutory reserves		11,049,847			11,049,847
Accumulated other comprehensive loss		(7,648,332	)		(9,066,842	)
Total shareholders’ equity		103,126,406			17,979,359
Total liabilities and shareholders’ equity	$	111,153,886		$	18,044,230

(b) Condensed statements of operations and comprehensive loss

	For the year ended December 31, 2020			For the year ended December 31, 2019			For the year ended December 31, 2018
Operating expenses:
General and administrative expenses	$	6,401,580		$	385,865		$	249,107
Total operating expenses		6,401,580			385,865			249,107

Loss from operations		(6,401,580	)		(385,865	)		(249,107	)

Interest income		798,328			4			12
Other expenses		(4,162	)		(1,390	)		(724	)
Exchange gain		340,643			529			-
Share of loss from subsidiaries		(25,408,649	)		(42,016,647	)		(12,058,675	)

Net loss		(30,675,420	)		(42,403,369	)		(12,308,494	)

Comprehensive loss
Net loss	$	(30,675,420	)	$	(42,403,369	)	$	(12,308,494	)
Other comprehensive income (loss):
Foreign currency translation adjustment		1,418,510			(1,188,488	)		(11,363,682	)
Comprehensive loss	$	(29,256,910	)	$	(43,591,857	)	$	(23,672,176	)

(c) Condensed statements of cash flows

	For the year ended December 31, 2020			For the year ended December 31, 2019			For the year ended December 31, 2018
Cash Flows from Operating Activities:
Net loss	$	(30,675,420	)	$	(42,403,369	)	$	(12,308,494	)
Adjustments to reconcile net loss to net cash used in operating activities:
Share of loss from subsidiaries		25,408,649			42,016,647			12,058,675
Amortization Expense		165,664			-			-
Changes in assets and liabilities:
Due from subsidiaries		(46,448,162	)		193,591			(193,590	)
Other current assets, net		(868,949	)		-			-
Accrued liabilities and other payables		75,583			-			-
Due to subsidiaries		(64,871	)		64,871			-
Net Cash Used in Operating Activities		(52,407,506	)		(128,260	)		(443,409	)

Cash Flows from Investing Activities
Cash paid for debt investments		(79,915,000	)		-			-
Proceeds from redemption of debt investments		39,080,000			-			-
Purchases of intangible assets		(11,927,846	)		-			-
Net Cash Used in Investing Activities		(52,762,846	)		-			-

Cash Flows from Financing Activities
Sale of subsidiary		76,566			-			-
Capital contribution from shareholder		-			-			7,700
Issuance of ordinary shares for cash		114,191,595			-			585,739
Net Cash Provided by Financing Activities		114,268,161			-			593,439

Effect of Foreign Exchange on Cash		(801,360	)		-			-

Net Increase (Decrease) in Cash and Cash Equivalents		8,296,449			(128,260	)		150,030

Cash and Cash Equivalents at Beginning of Year		21,770			150,030			-

Cash and Cash Equivalents at End of Year		8,318,219		$	21,770		$	150,030

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Product revenue	$ 9,677,278	$ 93,255,813	$ 310,856,407
Service revenue	9,327,023	15,804,253	8,185,386
Total revenues	19,004,301	109,060,066	319,041,793
Cost of revenues	21,903,644	139,623,799	294,596,001
Gross profit (loss)	(2,899,343)	(30,563,733)	24,445,792
Operating expenses:
Selling expenses	925,373	1,213,294	4,095,835
General and administrative expenses	22,822,085	18,870,794	51,410,864
Total operating expenses	23,747,458	20,084,088	55,506,699
Loss from operations	(26,646,801)	(50,647,821)	(31,060,907)
Other income (expenses):
Interest income	824,435	217,200	453,991
Interest expenses	(728,346)	(2,041,491)	(921,047)
Other income	81,733	84,992	1,139,514
Exchange gain (loss)	(288,346)	5,693,798	(403,544)
Government grants	4,006,567	6,298,893	798,680
VAT refund		9,138	27,368,030
Other expenses	(108,624)	(287,530)	(8,289,391)
Total other income	3,787,419	9,975,000	20,146,233
Loss before income taxes provision	(22,859,382)	(40,672,821)	(10,914,674)
Income taxes provision	9,251,542	400,311	899,586
Net Loss	(32,110,924)	(41,073,132)	(11,814,260)
Less: net income (loss) attributable to non-controlling interest	(1,435,504)	1,330,237	494,234
Net loss attributable to Ebang International Holdings Inc.	(30,675,420)	(42,403,369)	(12,308,494)
Comprehensive loss
Net loss	(32,110,924)	(41,073,132)	(11,814,260)
Other comprehensive income (loss):
Foreign currency translation adjustment	1,960,109	(1,188,488)	(11,363,682)
Total comprehensive loss	(30,150,815)	(42,261,620)	(23,177,942)
Less: comprehensive income (loss) attributable to non-controlling interest	(893,905)	1,330,237	494,234
Comprehensive loss attributable to Ebang International Holdings Inc.	$ (29,256,910)	$ (43,591,857)	$ (23,672,176)
Net loss per ordinary share attributable to Ebang International Holdings Inc.
Basic (in Dollars per share)	$ (0.25)	$ (0.38)	$ (0.36)
Diluted (in Dollars per share)	$ (0.25)	$ (0.38)	$ (0.36)
Weighted average ordinary shares outstanding
Basic (in Shares)	121,941,226	111,771,000	33,808,506
Diluted (in Shares)	121,941,226	111,771,000	33,808,506

Loans (Details) - USD ($)	12 Months Ended
Loans (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Shares mortgaged (in Shares)	48,061,530
Interest expenses	$ 728,346	$ 2,041,420	$ 921,047

Related Party Transactions (Details) - Schedule of related parties	12 Months Ended
	Dec. 31, 2020
Dong Hu [Member]
Related Party Transaction [Line Items]
Name of related parties	Dong Hu
Relationship with the Company	Chief executive officer (CEO) of the Company
Hong Kong Dewang Limited [Member]
Related Party Transaction [Line Items]
Name of related parties	Hong Kong Dewang Limited
Relationship with the Company	Wholly owned by Zhengqian Jiang, father-in-law of Dong Hu
Zhejiang Wansi Computer Manufacturing Company Limited [Member]
Related Party Transaction [Line Items]
Name of related parties	Zhejiang Wansi Computer Manufacturing Company Limited
Relationship with the Company	68% owned by Aiqun Jiang, spouse of Dong Hu
Hangzhou Yibang Zhiyang Technology Co., Ltd. [Member]
Related Party Transaction [Line Items]
Name of related parties	Hangzhou Yibang Zhiyang Technology Co., Ltd.
Relationship with the Company	Controlled by Dong Hu
Top Max Limited [Member]
Related Party Transaction [Line Items]
Name of related parties	Top Max Limited
Relationship with the Company	Controlled by Dong Hu
Shubo Qian [Member]
Related Party Transaction [Line Items]
Name of related parties	Shubo Qian
Relationship with the Company	Brother-in-law of Dong Hu
Jun Hu [Member]
Related Party Transaction [Line Items]
Name of related parties	Jun Hu
Relationship with the Company	Sister of Dong Hu

Property, Plant and Equipment, Net (Details) - USD ($)	12 Months Ended
Property, Plant and Equipment, Net (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment, Net (Details) [Line Items]
Depreciation expense	$ 6,347,738	$ 7,994,727	$ 3,902,271
Cash [Member]
Property, Plant and Equipment, Net (Details) [Line Items]
Construction project-in-progress	11,000,000
Credit [Member]
Property, Plant and Equipment, Net (Details) [Line Items]
Construction project-in-progress	$ 6,000,000

Operating leases (Details) - Schedule of component of lease cost - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Schedule of component of lease cost [Abstract]
Operating lease cost	$ 704,264	$ 662,505
Short-term lease cost	29,007	116,728
Total lease cost	$ 733,271	$ 779,233

Nature of Business and Organization

12 Months Ended

Dec. 31, 2020

Nature of Business and Organization [Abstract]

Nature of business and organization

Note 1 – Nature of business and organization

Ebang International Holdings Inc. (“Ebang International”) was incorporated on May 17, 2018, a holding company, as an exempted company with limited liability in the Cayman Islands. Ebang International principally engages in manufacturing high performance bitcoin mining machines and telecommunication products and conducts business through its subsidiaries in the People’s Republic of China (the “PRC”). In January 2010, Mr. Dong Hu, chairman of board of directors and chief executive officer, founded Zhejiang Ebang Communication Technology Co., Ltd. (“Zhejiang Ebang”), which established Zhejiang Ebang Information Technology Co., Ltd. (“Ebang IT”) to conduct development and sales of communications network access devices and related equipment. In August 2015, Zhejiang Ebang was listed on the National Equities Exchange and Quotations (“NEEQ”). In August 2016, Zhejiang Ebang acquired 51.05% of the equity interest in Hangzhou Dewang Information Technology Co., Ltd. (“Hangzhou Dewang”) through capital injection in Hangzhou Dewang. In March 2018, Zhejiang Ebang was delisted from the NEEQ in preparation for the reorganizations. Ebang International underwent a series of onshore and offshore reorganizations, which were completed on May 22, 2018.

Immediately before and after the reorganization, the controlling shareholder of Zhejiang Ebang controlled Zhejiang Ebang and Ebang International; therefore, for accounting purposes, the reorganization is accounted for as a transaction of entities under common control. Accordingly, the accompanying consolidated financial statements have been prepared as if the current corporate structure had been in existence throughout the periods presented.

Ebang International and its consolidated subsidiaries are collectively referred to herein as the “Company”, “we” and “us”, unless specific reference is made to an entity.

Corporate Structure

Ebang International Holdings Inc. is a holding company incorporated in Cayman Islands that does not have substantive operations. We conduct our businesses through our subsidiaries. As of December 31, 2020, our principal subsidiaries consist of the following entities (in chronological order based on their dates of incorporation):

●

Zhejiang Ebang Communication Technology Co., Ltd., or Zhejiang Ebang, our majority-owned subsidiary and an onshore holding company established in the PRC on January 21, 2010 principally for holding our businesses in the design, manufacture and sale of telecommunications and blockchain processing equipment;

●

Zhejiang Ebang Information Technology Co., Ltd., or Ebang IT, our majority-owned subsidiary and an operating entity established in the PRC on August 11, 2010 principally for the design, manufacture and sale of telecommunications and blockchain processing equipment;

●

Hangzhou Dewang Information Technology Co., Ltd., or Hangzhou Dewang, our majority-owned subsidiary and an operating entity established in the PRC on December 31, 2015 principally for the design and manufacture of blockchain chips;

●

Ebang Communications (HK) Technology Limited, or HK Ebang Communications (formerly known as Hong Kong Bite Co., Ltd. or HK Bite), our wholly-owned subsidiary and an operating entity established in Hong Kong on February 12, 2016 principally for the trading of blockchain chips;

●

Yunnan Ebang Information Technology Co., Ltd., or Yunnan Ebang, our majority-owned subsidiary and an operating entity established in the PRC on June 28, 2016 principally for the assembly line of blockchain processing equipment;

●

Wuhai Ebang Information Technology Co., Ltd., or Wuhai Ebang, our wholly-owned subsidiary and an operating entity established in the PRC on September 18, 2017 principally for the assembly line of blockchain processing equipment; and

●

Hangzhou Ebang Jusheng Technology Co., Ltd., or Ebang Jusheng, our wholly-owned subsidiary and an operating entity established in the PRC on January 3, 2018 principally for the trading of telecommunications and blockchain processing equipment.

The accompanying consolidated financial statements reflect the activities of Ebang International and each of the following major entities:

Name	Background		Ownership
Orient Plus International Limited (“Orient Plus”)	●	A British Virgin Islands (“BVI”) company	100% owned by Ebang International
	●	Incorporated on June 6, 2018
	●	A holding company

Ebang Communications (HK) Technology Limited (“HK Ebang Communications”), formerly known as Hong Kong Bite Co., Ltd. or HK Bite	●	A Hong Kong company	100% owned by Orient Plus
	●	Incorporated on February 12, 2016
	●	A Trading company

Power Ebang Limited (“Power Ebang”)	●	A British Virgin Islands company	100% owned by Ebang International
	●	Incorporated on February 26, 2018
	●	A holding company

Hong Kong Ebang Technology Co., Ltd. (“HK Ebang Technology”)	●	A Hong Kong company	100% owned by Power Ebang
	●	Incorporated on February 12, 2018
	●	A holding company

Leader Forever Holdings Limited (“Leader Forever”)	●	A British Virgin Islands company	100% owned by Ebang International
	●	Incorporated on January 7, 2019
	●	A holding company

Hong Kong Ebang Information Co., Ltd. (“HK Ebang Information”)	●	A Hong Kong company	100% owned by Leader Forever
	●	Incorporated on April 1, 2019
	●	A Trading company

Hangzhou Ebang Hongfa Technology Co., Ltd. (“Ebang Hongfa”)	●	A PRC limited liability company and deemed a wholly foreign owned enterprise (“WFOE”)	100% owned by HK Ebang Technology
	●	Incorporated on February 11, 2018
	●	A holding company

Hangzhou Ebang Hongling Technology Co., Ltd. (“Ebang Hongling”)	●	A PRC limited liability company	100% owned by Ebang Hongfa
	●	Incorporated on July 3, 2019	100% owned by Ebang Hongfa

Wuhai Ebang Information Technology Co., Ltd. (“Wuhai Ebang”)	●	A PRC limited liability company	100% owned by Ebang Hongling
	●	Incorporated on September 18, 2017	100% owned by Ebang Hongling

Zhejiang Ebang Communication Technology Co., Ltd. (“Zhejiang Ebang”)	●	A PRC limited liability company	99.99% owned by Ebang Hongfa
	●	Incorporated on January 21, 2010	99.99% owned by Ebang Hongfa

Zhejiang Ebang Information Technology Co., Ltd. (“Ebang IT”)	●	A PRC limited liability company	100% owned by Zhejiang Ebang
	●	Incorporated on August 11, 2010	100% owned by Zhejiang Ebang

Yunnan Ebang Information Technology Co., Ltd. (“Yunnan Ebang”)	●	A PRC limited liability company	100% owned by Zhejiang Ebang
	●	Incorporated on June 28, 2016	100% owned by Zhejiang Ebang

Hangzhou Yiquansheng Communication Technology Co., Ltd. (formerly known as Suzhou Yiquansheng Communication Technology Co., Ltd.) (“Hangzhou Yiquansheng”)*	●	A PRC limited liability company	100% owned by Zhejiang Ebang before disposed by the Company in Dec. 2020*
	●	Incorporated on April 2, 2018

Hangzhou Ebang Jusheng Technology Co., Ltd. (“Ebang Jusheng”)	●	A PRC limited liability company	100% owned by Ebang Hongfa
	●	Incorporated on January 3, 2018	100% owned by Ebang Hongfa

Hangzhou Dewang Information Technology Co., Ltd. (“Hangzhou Dewang”)	●	A PRC limited liability company	51.05% owned by Ebang Hongfa
	●	Incorporated on December 31, 2015	51.05% owned by Ebang Hongfa

Summary of Significant Accounting Policies (Details) - Schedule of estimated useful lives of Intangible assets	12 Months Ended
	Dec. 31, 2020
Land use right [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	50 years
Software [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	65 months
License [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	10 year
Non-patent technology [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated useful lives	1 year

Credit Risk and Major Customers (Tables)

12 Months Ended

Dec. 31, 2020

Risks and Uncertainties [Abstract]

Schedule of accounts receivable concentration of credit risk

	As of December 31,			As of December 31,
	2020			2019
Customer A		19	%		15	%
Customer B		*	%		12	%
Customer C		*	%		15	%
Customer D		24	%		*	%
Customer E		10	%		*	%

	For the year ended December 31,			For the year ended December 31,			For the year ended December 31,
	2020			2019			2018
Supplier F		*	%		*	%		61	%
Supplier G		*	%		45	%		*	%
Supplier H		44	%		18	%		*	%
Supplier I		28	%		*	%		*	%

For the year
ended
December 31,

2020

2019

2018

Customer J

Customer K

Customer E

Customer L

Customer D

Customer M

Customer N

Customer O

*	Less than 10%

Accounts Receivable, Net (Details) - Schedule of allowance for doubtful accounts - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of allowance for doubtful accounts [Abstract]
Allowance for doubtful accounts, beginning balance	$ 1,772,280	$ 1,769,468	$ 1,849,985
Add: Provision for doubtful accounts	2,740,639	26,297	19,778
Effects of foreign exchange rate	275,936	(23,485)	(100,295)
Allowance for doubtful accounts, ending balance	$ 4,788,855	$ 1,772,280	$ 1,769,468

Segment and revenue analysis (Details) - Schedule of geographic region - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue
Total revenue	$ 19,004,301	$ 109,060,066	$ 319,041,793
Mainland China [Member]
Revenue
Total revenue	18,962,130	95,373,150	291,523,362
United States of America [Member]
Revenue
Total revenue	9,338	1,407,546	6,713,837
Hong Kong [Member]
Revenue
Total revenue		1,673,300	18,800,733
Other foreign countries [Member]
Revenue
Total revenue	$ 32,833	$ 10,606,070	$ 2,003,861

Property, Plant and Equipment [Abstract]

+ References

+ Details

Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2020

Property, plant and equipment, net

Note 6 – Property, plant and equipment, net

Property, plant and equipment, net consist of the following:

	As of December 31,			As of December 31,
	2020			2019
Buildings	$	3,927,085		$	4,135,656
Mechanical equipment		19,562,087			18,432,857
Motor vehicles		348,941			321,719
Office equipment		6,772,941			1,678,977
Computer software		174,740			147,665
Leasehold improvement		218,004			219,370
Construction in progress		21,059,285			4,457,380
Total		52,063,083			29,393,624
Accumulated depreciation		(22,939,840	)		(16,168,863	)
Property, plant and equipment, net	$	29,123,243		$	13,224,761

For the year ended December 31, 2020, the Company paid approximately $11 million in cash and $6 million on credit primarily for the project-in-progress related to the construction of the Company’s facilities, primarily including manufacturing plants, warehouses and office buildings.

Depreciation expense for the years ended December 31, 2020, 2019 and 2018 amounted to $6,347,738, $7,994,727 and $3,902,271, respectively.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of significant accounting policies

Note 2 – Summary of significant accounting policies

Basis of presentation

Principles of consolidation

Reclassification

Certain prior year amounts have been reclassified to conform to the current period presentation. These reclassifications had no impact on net earnings or equity.

Non-controlling Interest

Use of estimates and assumptions

Foreign currency translation and transaction

Cash and cash equivalents

Cash and cash equivalents consist of cash on hand, demand deposits and time deposits placed with banks or other financial institutions and have original maturities of less than three months.

Restricted cash

Notes receivable and notes payable

Debt investments

Current expected credit losses

Inventories, net

Property, plant and equipment, net

Buildings		20 years
Computer software		10 years
Leasehold improvements		Over the shorter of the lease term or expected useful lives
Office equipment		3-5 years
Motor vehicles		5 years
Mechanical equipment		3-10 years

Intangible assets, net

The estimated useful lives are as follows:

Land use right		50 years
Software		65 months
License		10 year
Non-patent technology		1 year

Impairment for long-lived assets

Fair value measurement

●

Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

●

ASC 820 describes three main approaches to measuring the fair value of assets and liabilities:

The financial asset carried at fair value on a recurring basis at December 31, 2020 and 2019 is as follows:

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Balance

Debt investments
As of December 31, 2020	$	-		40,835,000		-		40,835,000
As of December 31, 2019	$	-		-		-		-

Related party transactions

Revenue recognition

Products revenue

Service revenue

Revenue disaggregation

Contract liabilities

Segment reporting

Selling and handling expenses

General and administrative expenses

Operating leases

Prior to the adoption of ASC 842 on January 1, 2019:

Upon and hereafter the adoption of ASC 842 on January 1, 2019:

Government grants

Value-added taxes

Income taxes

Comprehensive loss

Earnings per share

Statutory reserves

Concentration of credit risk

Recently issued accounting pronouncements

Operating leases (Details) - USD ($)	12 Months Ended
Operating leases (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2018	Dec. 31, 2019
Disclosure Text Block [Abstract]
Description of lease expiration	The Company entered into operating lease agreements for factory buildings, office spaces and employee dormitories including lease agreements with its related party, with various initial term expiration dates through 2022 and various renewal and termination options.
Operating lease liabilities	$ 796,335		$ 1,192,534
Operating lease right-of-use assets	$ 916,036		$ 1,317,342
Rent expense		$ 627,565

Loans

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Loans

Note 9 – Loans

Outstanding balances of loans consist of the following:

As of December 31, 2020

Balance

Maturity
Date

Effective
Interest
Rate

Collateral/
Guarantee

Hangzhou United Bank

765,967

September 7, 2021

5.50

N/A

As of December 31, 2019	Balance		Maturity Date	Effective Interest Rate			Collateral/ Guarantee
Haitong International Credit Company Limited	$	4,871,795	January 10, 2020		8.6641	%	See below
Total short-term loan		4,871,795
Less: unamortized debt issuance costs		7,098
Loan due within one year, less unamortized debt issuance costs	$	4,864,697

The loan borrowed from Haitong International Credit Company Limited was secured by all of the assets, rights, title, interests and benefits of HK Ebang Technology and was guaranteed by Mr. Hu, the controlling shareholder and chief executive officer. Top Max Limited, principal shareholder of the Company, also mortgaged 48,061,530 of its shares for the loan. The loan has been paid off as of December 31, 2020.

Interest expenses for the years ended December 31, 2020, 2019 and 2018 amounted to $728,346, $2,041,420 and $921,047, respectively. As of December 31, 2020, the Company’s future loan obligations according to the terms of the loan, including long-term loans from related party are as follows:

2021	$	765,967
2022 and thereafter		-
Total	$	765,967

Also see Note 16 for related party loans.

Condensed financial information of the parent company (Details) - Schedule of condensed statements of cash flows - Parent Company [Member] - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Cash Flow Statements, Captions [Line Items]
Net loss	$ (30,675,420)	$ (42,403,369)	$ (12,308,494)
Adjustments to reconcile net loss to net cash used in operating activities:
Share of loss from subsidiaries	25,408,649	42,016,647	12,058,675
Amortization Expense	165,664
Changes in assets and liabilities:
Due from subsidiaries	(46,448,162)	193,591	(193,590)
Other current assets, net	(868,949)
Accrued liabilities and other payables	75,583
Due to subsidiaries	(64,871)	64,871
Net Cash Used in Operating Activities	(52,407,506)	(128,260)	(443,409)
Cash Flows from Investing Activities
Cash paid for debt investments	(79,915,000)
Proceeds from redemption of debt investments	39,080,000
Purchases of intangible assets	(11,927,846)
Net Cash Used in Investing Activities	(52,762,846)
Cash Flows from Financing Activities
Sale of subsidiary	76,566
Capital contribution from shareholder			7,700
Issuance of ordinary shares for cash	114,191,595		585,739
Net Cash Provided by Financing Activities	114,268,161		593,439
Effect of Foreign Exchange on Cash	(801,360)
Net Increase (Decrease) in Cash and Cash Equivalents	8,296,449	(128,260)	150,030
Cash and Cash Equivalents at Beginning of Year	21,770	150,030
Cash and Cash Equivalents at End of Year	$ 8,318,219	$ 21,770	$ 150,030

Debt investments

12 Months Ended

Dec. 31, 2020

Investments, Debt and Equity Securities [Abstract]

Debt investments

Note 3 – Debt investments

Debt investments consist of the following:

	As of December 31,		As of December 31,
	2020		2019

Available-for-sale debt investments	$	40,835,000	$	-

For the years ended December 31, 2020, 2019 and 2018, the Company purchased bonds facilitated by a third-party broker for the aggregate amount of approximately $104 million, nil and nil, approximately $63 million, nil and nil was redeemed during the same period, respectively. Approximately $41 million, nil and nil, was redeemed subsequent to the respective balance sheet dates.

An aggregate interest income of approximately $0.8 million, nil and nil were included in the interest income in the consolidated statements of operations and comprehensive loss for the respective periods presented.

Intangible Assets, Net (Details)	12 Months Ended
Intangible Assets, Net (Details)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Intangible Assets, Net (Details) [Line Items]
Land use right	$ 2,600,000	¥ 18,117,700
Amortization expense	805,220		$ 861,023	$ 897,079
Cash [Member]
Intangible Assets, Net (Details) [Line Items]
Exclusive license of a proprietary patent	12,000,000
Credit [Member]
Intangible Assets, Net (Details) [Line Items]
Exclusive license of a proprietary patent	$ 8,000,000

Segment and revenue analysis (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of revenue

	For the year ended December 31, 2020		For the year ended December 31, 2019		For the year ended December 31, 2018
Revenue
Product sale - Bitcoin mining machines and related accessories	$	7,951,296	$	89,919,400	$	307,126,878
Product sale - Telecommunication		1,725,982		3,336,413		3,729,529
Service - Management and maintenance		9,327,023		15,804,253		8,185,386
	$	19,004,301	$	109,060,066	$	319,041,793

Schedule of geographic region

	For the year ended December 31, 2020		For the year ended December 31, 2019		For the year ended December 31, 2018
Geographic region
Revenue
Mainland China	$	18,962,130	$	95,373,150	$	291,523,362
United States of America		9,338		1,407,546		6,713,837
Hong Kong		-		1,673,300		18,800,733
Other foreign countries		32,833		10,606,070		2,003,861
	$	19,004,301	$	109,060,066	$	319,041,793

Summary of Significant Accounting Policies (Details) - Schedule of financial asset carried at fair value on a recurring basis - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Summary of Significant Accounting Policies (Details) - Schedule of financial asset carried at fair value on a recurring basis [Line Items]
Marketable debt security	$ 40,835,000
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Summary of Significant Accounting Policies (Details) - Schedule of financial asset carried at fair value on a recurring basis [Line Items]
Marketable debt security
Significant Other Observable Inputs (Level 2) [Member]
Summary of Significant Accounting Policies (Details) - Schedule of financial asset carried at fair value on a recurring basis [Line Items]
Marketable debt security	40,835,000
Significant Unobservable Inputs (Level 3) [Member]
Summary of Significant Accounting Policies (Details) - Schedule of financial asset carried at fair value on a recurring basis [Line Items]
Marketable debt security

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (32,110,924)	$ (41,073,132)	$ (11,814,260)
Depreciation and amortization expenses	7,152,958	8,855,750	4,799,350
Allowance for doubtful accounts	2,740,639	26,297	19,778
Loss (gain) on disposal of property, plant and equipment	92,172	(18,796)	23,403
Amortization of debt issuance cost	7,098	235,686	153,370
Inventory write-down	3,644,243	6,341,957	61,771,039
Loss (gain) on short-term investment		(1,366)	17,968
Deferred income taxes	8,627,604	(132,767)	(9,672,294)
Noncash lease expenses	659,082	286,774
Accounts receivable, net	(1,351,955)	13,251,422	(7,045,434)
Notes receivable	(724,627)		42,193
Inventories, net	9,725,152	49,197,114	(83,666,057)
Advances to suppliers	(3,601,544)	1,554,824	121,148,949
VAT recoverable	1,429,649	(6,118,957)	(13,952,636)
Prepayments and other current assets, net	3,287,612	(48,399)	(684,840)
Accounts payable	(9,234,394)	(31,546,450)	13,633,755
Notes payable	1,028,971	(7,688,440)	2,409,880
Income taxes payable	(660)	(7,817,075)	233,904
Advances from customers	(204,926)	(980,958)	(181,799,117)
Accrued liabilities and other payables	(6,993,438)	2,416,318	(3,850,987)
NET CASH USED IN OPERATING ACTIVITIES	(15,827,288)	(13,260,198)	(108,232,036)
Purchases of property, plant and equipment	(10,833,436)	(5,832,609)	(5,940,856)
Purchases of intangible assets	(11,927,846)		(371,999)
Proceeds from disposal of property, plant and equipment	362,314	25,764	5,140
Cash paid for debt investments	(79,915,000)
Cash paid for short-term investment		(130,906)
Proceeds from redemption of debt investments	39,080,000
Proceeds from maturity of short-term investment		128,520	23,116
Proceeds from sale of subsidiary, net of cash disposed of	53,435
NET CASH USED IN INVESTING ACTIVITIES	(63,180,533)	(5,809,231)	(6,284,599)
Capital contribution from shareholder			7,700
Distribution to owners			(6,502,898)
Proceeds from short-term loans	765,967	7,068,283	10,908,195
Repayment of short-term loans	(4,871,795)	(14,115,485)	(3,848,048)
Proceeds from long-term loan			13,205,128
Repayment of long-term loan		(8,333,333)
Payment of debt issuance cost			(396,154)
Proceeds from related party loans	9,631,014	27,366,576
Repayment to related parties	(27,657,811)	(3,438,258)
Issuance of ordinary shares for cash	114,191,595		585,739
NET CASH PROVIDED BY FINANCING ACTIVITIES	92,058,970	8,547,783	13,959,662
EFFECT OF FOREIGN EXCHANGE ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(4,705,565)	(3,181,463)	(12,970,856)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	8,345,584	(13,703,109)	(113,527,829)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF YEAR	5,778,167	19,481,276	133,009,105
CASH, CASH EQUIVALENTS AND RESTRICTED CASH AT END OF YEAR	14,123,751	5,778,167	19,481,276
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest	1,493,469	1,323,827	480,543
Income taxes	293,028	8,119,721	11,755,012
NON-CASH INVESTING AND FINANCING ACTIVITIES:
Liabilities assumed in connection with purchase of property, plant and equipment	5,731,084	3,010,849	4,083,805
Liabilities assumed in connection with purchase of intangible assets	7,951,897		322,082
Operating lease right-of-use asset obtained in exchange for operating lease liability	192,395	1,142,321
Transfer from other assets to property, plant and equipment	4,454,011	1,048	4,912,272
Reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheets
Cash and cash equivalents	13,669,439	3,464,262	9,997,593
Restricted cash, current	406,857	2,270,588	7,271,849
Restricted cash, noncurrent	47,455	43,317	2,211,834
Total cash, cash equivalents and restricted cash	$ 14,123,751	$ 5,778,167	$ 19,481,276

Loans (Details) - Schedule of outstanding balances of loans - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Short-term Debt [Line Items]
Total short-term loan		$ 4,871,795
Less: unamortized debt issuance costs		7,098
Loan due within one year, less unamortized debt issuance costs		4,864,697
Hangzhou United Bank [Member]
Short-term Debt [Line Items]
Total short-term loan	$ 765,967
Maturity Date	Sep. 07, 2021
Effective Interest Rate	5.50%
Collateral/ Guarantee
Haitong International Credit Company Limited [Member]
Short-term Debt [Line Items]
Total short-term loan		$ 4,871,795
Maturity Date		Jan. 10, 2020
Effective Interest Rate		8.6641%
Collateral/ Guarantee		See below

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of expected useful lives of property plant and equipment

Buildings		20 years
Computer software		10 years
Leasehold improvements		Over the shorter of the lease term or expected useful lives
Office equipment		3-5 years
Motor vehicles		5 years
Mechanical equipment		3-10 years

Schedule of estimated useful lives of Intangible assets

Land use right		50 years
Software		65 months
License		10 year
Non-patent technology		1 year

Schedule of financial asset carried at fair value on a recurring basis

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Balance

Debt investments
As of December 31, 2020	$	-		40,835,000		-		40,835,000
As of December 31, 2019	$	-		-		-		-

Subsequent events

12 Months Ended

Dec. 31, 2020

Subsequent Events [Abstract]

Subsequent events

Note 18 – Subsequent events

The Company has evaluated subsequent events through the date the consolidated financial statements were issued and filed with the Securities and Exchange Commission. Based on the Company’s evaluation, no other event has occurred requiring adjustment or disclosure in the notes to the consolidated financial statements, except the following:

As of March 11, 2021, the Company has fully repaid the loans to Zhejiang Wansi Computer Manufacturing Company Limited.

In January 2021, the Company completed the November 2020 Offering by selling another 3,400,000 units for net proceeds of approximately $17 million. The units issued consisting an aggregate of 3,400,000 shares of Class A ordinary shares and 3,400,000 warrant which can be exercised for 1,700,000 shares of Class A ordinary shares.

In February 2021, the Company launched another offering for an aggregate of 19,200,000 units at $5 per Unit (the “February 2021 Offering”). Each unit offered in the February 2021 Offering consist of one Class A ordinary share and one warrant to purchase one-half of one Class A ordinary share. The warrants are immediately exercisable and expire on the fifth anniversary of the original issuance date. The exercise price of each two warrant is $5.25. The warrants may be exercised only for a whole number of shares and the Company does not issue fractional shares upon exercise of the warrants. Upon completion of the February 2021 Offering, the Company received net proceeds of approximately $90 million.

The Company also entered into inducement agreements with certain investors (the “Holders”) in February 2021 to induce them to exercise the warrants issued to them in connection with the November 2020 Offering and the February 2021 Offering for all 13,600,000 Class A ordinary shares available for exercise thereunder (the “Warrant Inducement Offering”). The Holders exercised these warrants, in full, and were issued 13,600,000 Class A ordinary shares as a result of such exercises, with the Company receiving aggregate net proceeds of approximately $68 million after deducting sales commissions payable to the warrant solicitation agents and related expenses. Additionally, as consideration for their exercise of such warrants, the Company issued to the Holders the new warrants, which are exercisable, anytime within five (5) years from the date on which they became exercisable, at an exercise price of $11.06 per share, for an aggregate of up to the 13,600,000 Class A ordinary shares.

In March 2021, the Company launched another offering for an aggregate of 14,000,000 units at $6.1 per unit (the “March 2021 Offering”). Each unit offered in the March 2021 Offering consist of one Class A ordinary share and one warrant to purchase one-half of one Class A ordinary share. The warrants are immediately exercisable and expire on the fifth anniversary of the original issuance date. The exercise price of each two warrant is $6.59. The warrants may be exercised only for a whole number of shares and the Company does not issue fractional shares upon exercise of the warrants. Upon completion of the March 2021 Offering, the Company received net proceeds of approximately $80 million.

In April 2021, the Company was made aware that several class action lawsuits had been filed by law firms on behalf of the Company’s investors, alleging, among other things, that the Company made materially false and misleading statements regarding the Company's business. See Note 17.

Intangible Assets, Net (Details) - Schedule of intangible assets with definite useful lives - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Intangible Assets, Net (Details) - Schedule of intangible assets with definite useful lives [Line Items]
Total	$ 26,623,476	$ 6,317,604
Accumulated amortization	(3,546,041)	(2,533,451)
Intangible assets, net	23,077,435	3,784,153
License [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets with definite useful lives [Line Items]
Total	3,345,742	3,134,328
Land use right [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets with definite useful lives [Line Items]
Total	2,927,874	2,742,866
Non-patent technology [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets with definite useful lives [Line Items]
Total	470,117	440,410
Software [Member]
Intangible Assets, Net (Details) - Schedule of intangible assets with definite useful lives [Line Items]
Total	$ 19,879,743

Intangible Assets, Net (Details) - Schedule of estimated future amortization expense related to intangible assets	Dec. 31, 2020 USD ($)
Schedule of estimated future amortization expense related to intangible assets [Abstract]
2021	$ 2,664,207
2022	2,608,606
2023	2,046,532
2024	2,046,532
2025	2,046,532
Thereafter	11,665,026
Total	$ 23,077,435

Nature of Business and Organization (Details)	Dec. 31, 2020	Aug. 31, 2016
Nature of Business and Organization (Details) [Line Items]
Percentage of equity interest		51.05%
Hangzhou Yiquansheng [Member]
Nature of Business and Organization (Details) [Line Items]
Percentage of equity ownership	100.00%

Statutory reserves and restricted net assets (Details) - Schedule of PRC subsidiaries - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Statutory Accounting Practices [Line Items]
Total restricted net assets	$ 34,969,697	$ 34,757,335
Additional paid-in capital [Member]
Statutory Accounting Practices [Line Items]
Total restricted net assets	23,919,850	23,707,488
Statutory reserves [Member]
Statutory Accounting Practices [Line Items]
Total restricted net assets	$ 11,049,847	$ 11,049,847

Related Party Transactions (Details) - Schedule of long-term loans from related party - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Schedule of long-term loans from related party [Abstract]
Hong Kong Dewang Limited		$ 17,632,000

Income Taxes (Details) - Schedule of deferred tax assets and liabilities - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Schedule of deferred tax assets and liabilities [Abstract]
Provision for doubtful accounts	$ 8,701,439	$ 8,530,250
Net operating loss carryforward	5,036,643	7,120,737
Accrued expenses and others	3,510,029	287,467
Deferred tax assets, gross	17,248,111	15,938,454
Less: valuation allowance	(17,095,950)	(7,120,737)
Deferred tax assets	152,161	8,817,717
Intangible assets	153,033	263,278
Revenue and expense		11,724
Deferred tax liabilities	153,033	275,002
Total deferred tax assets (liabilities)	$ (872)	$ 8,542,715

Nature of Business and Organization (Details) - Schedule of accompanying consolidated financial statements

12 Months Ended

Dec. 31, 2020

Orient Plus International Limited [Member]

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A British Virgin Islands ("BVI") company

Orient Plus International Limited One [Member]

100% owned by Ebang International

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Orient Plus International Limited Two [Member]

Incorporated on June 6, 2018

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Ebang Communications (HK) Technology Limited (“HK Ebang Communications”), formerly known as Hong Kong Bite Co., Ltd. or HK Bite [Member]

A holding company

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A Hong Kong company

Ebang Communications (HK) Technology Limited (“HK Ebang Communications”), formerly known as Hong Kong Bite Co., Ltd. or HK Bite [Member]

100% owned by Orient Plus

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Ebang Communications (HK) Technology Limited (“HK Ebang Communications”), formerly known as Hong Kong Bite Co., Ltd. or HK Bite [Member]

Incorporated on February 12, 2016

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Power Ebang Limited [Member]

A Trading company

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A British Virgin Islands company

Power Ebang Limited [Member]

100% owned by Ebang International

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Power Ebang Limited [Member]

Incorporated on February 26, 2018

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Hong Kong Ebang Technology Co., Ltd. [Member]

A holding company

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A Hong Kong company

Hong Kong Ebang Technology Co., Ltd. [Member]

100% owned by Power Ebang

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Hong Kong Ebang Technology Co., Ltd. [Member]

Incorporated on February 12, 2018

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Leader Forever Holdings Limited [Member]

A holding company

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A British Virgin Islands company

Leader Forever Holdings Limited [Member]

100% owned by Ebang International

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Leader Forever Holdings Limited [Member]

Incorporated on January 7, 2019

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Hong Kong Ebang Information Co., Ltd. [Member]

A holding company

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A Hong Kong company

Hong Kong Ebang Information Co., Ltd. [Member]

100% owned by Leader Forever

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Hong Kong Ebang Information Co., Ltd. [Member]

Incorporated on April 1, 2019

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Hangzhou Ebang Hongfa Technology Co., Ltd. [Member]

A Trading company

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A PRC limited liability company and deemed a wholly foreign owned enterprise ("WFOE")

Hangzhou Ebang Hongfa Technology Co., Ltd. [Member]

100% owned by HK Ebang Technology

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Hangzhou Ebang Hongfa Technology Co., Ltd. [Member]

Incorporated on February 11, 2018

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Hangzhou Ebang Hongling Technology Co., Ltd. [Member]

A holding company

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A PRC limited liability company

Hangzhou Ebang Hongling Technology Co., Ltd. [Member]

100% owned by Ebang Hongfa

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Wuhai Ebang Information Technology Co., Ltd. [Member]

Incorporated on July 3, 2019

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A PRC limited liability company

Wuhai Ebang Information Technology Co., Ltd. [Member]

100% owned by Ebang Hongling

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Zhejiang Ebang Communication Technology Co., Ltd. [Member]

Incorporated on September 18, 2017

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A PRC limited liability company

Zhejiang Ebang Communication Technology Co., Ltd. [Member]

99.99% owned by Ebang Hongfa

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Zhejiang Ebang Information Technology Co., Ltd. [Member]

Incorporated on January 21, 2010

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A PRC limited liability company

Zhejiang Ebang Information Technology Co., Ltd. [Member]

100% owned by Zhejiang Ebang

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Yunnan Ebang Information Technology Co., Ltd. [Member]

Incorporated on August 11, 2010

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A PRC limited liability company

Yunnan Ebang Information Technology Co., Ltd. [Member]

100% owned by Zhejiang Ebang

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Hangzhou Yiquansheng Communication Technology Co., Ltd. (formerly known as Suzhou Yiquansheng Communication Technology Co., Ltd.) (“Hangzhou Yiquansheng”) [Member]

Incorporated on June 28, 2016

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A PRC limited liability company

Hangzhou Yiquansheng Communication Technology Co., Ltd. (formerly known as Suzhou Yiquansheng Communication Technology Co., Ltd.) (“Hangzhou Yiquansheng”) [Member]

100% owned by Zhejiang Ebang before disposed by the Company in Dec. 2020*

^[1]

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Hangzhou Ebang Jusheng Technology Co., Ltd. [Member]

Incorporated on April 2, 2018

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A PRC limited liability company

Hangzhou Ebang Jusheng Technology Co., Ltd. [Member]

100% owned by Ebang Hongfa

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

Hangzhou Dewang Information Technology Co., Ltd. [Member]

Incorporated on January 3, 2018

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]

A PRC limited liability company

Hangzhou Dewang Information Technology Co., Ltd. [Member]

51.05% owned by Ebang Hongfa

Subsidiary of Limited Liability Company or Limited Partnership [Line Items]