Canaan Considering New York IPO

Bitcoin Miner Maker Canaan Considering New York IPO

China-based Canaan, among the largest producers of bitcoin mining processors and apparatus, is reportedly contemplating an initial public offering (IPO) at the U.S.

A Bloomberg report Tuesday, citing people with”understanding of the topic,” stated that Canaan’s IPO might be launched at the first half of the year at New York, even though the process is still in its early phases.

Canaan was trying to go public in Hong Kong to seemingly raise roughly $1 billion, filing for an IPO in March of this past year. This strategy, however, was abandoned,” Bloomberg said. The company’s Hong Kong Stock Exchange (HKEX) program headquartered in November.

Leading mining companies Bitmain and Ebang additionally registered IPO software with all the HKEX in September and June of this past year, respectively. Neither has obtained any approval up to now.

The HKEX is seemingly loath to approve Bitmain’s IPO. Last month, an individual involved with the discussions told BMI the exchange is”very reluctant to really approve those bitcoin mining firms because the business is so volatile.”

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