Mining

09/01/19 10:51 UTC-4

Canaan Inc. mining company can place its IPO in the USA

Canaan Inc. Chinese company (one of the largest manufacturers of video cards and ASICs for cryptocurrency mining) is considering the possibility of placing its IPO in the US, as was reported by CoinDesk.

On Tuesday, January 8th, Bloomberg published an article about a possible Canaan IPO in New York. It is known that now the process is at an early stage of consideration of the proposal.

As is known, Canaan was keen to place an IPO in Hong Kong. According to analysts (in March last year), they were going to attract about 1 billion US dollars of investment. However, the Hong Kong HKEX stock exchange did not place an IPO, and the company’s statement “overdue” in early November last year.

 

Mining-companies IPO at HKEX

Recall that simultaneously with Canaan, such mining-companies as Bitmain and Ebang also submitted IPO applications with HKEX (in September and June of last year, respectively). At the same time, no company has received approval so far.

You may notice that the HKEX stock-market will not approve Bitmain's IPO. It is assumed that the exchange will not approve miningMining
– is a type of activity for creating new blocks in the Blockchain to ensure proper system operation. Details
companies, since the cryptocurrency sphere is very changeable.

As it is known, Ebang mining giant re-published its IPO project last month, indicating that in the third quarter of 2018, there was a significant decrease in the company's revenue and gross profit.

Canaan Inc. Chinese company may place its IPO in the United States, but at this stage it is not yet known when and how the listing will take place, and with which American exchange the mining manufacturer intends to cooperate.

Editor: Alyona Nabok

See also: "The Japanese company DMM announced the closure of its mining business"

#Hong Kong #USA #Canaan #IPO #Ebang #HKEX #Bitmain

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