PANews reported on June 14th that, according to Globenewswire, Nasdaq-listed cryptocurrency mining company Ebang International announced that its subsidiary has won a bid for an industrial land parcel in Xinghe County, Ulanqab City, Inner Mongolia Autonomous Region. The subsidiary plans to build a high-efficiency amorphous and nanocrystalline new material production base. The project will leverage Inner Mongolia's wind power, photovoltaic resources, and clean energy policy advantages to focus on the research and development and manufacturing of amorphous and nanocrystalline new materials. The production base will specialize in manufacturing high-magnetic-induction, ultra-low-loss materials, and the product performance will meet the latest transformer energy efficiency standards of the U.S. Department of Energy (DOE). These materials can be widely used in photovoltaic, energy storage, new energy power conversion equipment, and smart data center applications.