Bitcoin Miner Maker Canaan Considering New York IPO: Report

China-based mostly Canaan, one of the biggest suppliers of bitcoin mining chips and devices, is reportedly contemplating an initial general public presenting (IPO) in the U.S.

A Bloomberg report on Tuesday, citing persons with “knowledge of the matter,” explained that Canaan’s IPO could be introduced in the very first 50 percent of this yr in New York, although the process is nevertheless in its early stages.

Canaan experienced been trying to get to go general public in Hong Kong to evidently elevate about $1 billion, filing for an IPO in March of past yr. That approach, nevertheless, has been abandoned, Bloomberg explained. The firm’s Hong Kong Stock Exchange (HKEX) application lapsed in November.

Major mining firms Bitmain and Ebang also filed IPO applications with the HKEX in September and June of past yr, respectively. Neither has received any approval to date.

The HKEX is apparently unwilling to approve Bitmain’s IPO. Final thirty day period, a particular person included in the talks informed Bit-coinTalk that the trade is “very hesitant to in fact approve these bitcoin mining firms because the business is so unstable.”

Ebang, on the other hand, refiled its draft IPO prospectus past thirty day period, but stating it has observed “significant decreases” in profits and gross financial gain in Q3 2018.

New York image through Shutterstock 


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