China's second largest Bitcoin mining equipment firm might launch IPO in New York

08 Jan, 2019
by Alberto Arnaldo
Mining
China's second largest Bitcoin mining equipment firm might launch IPO in New York

Chinese company Canaan Inc, the second largest manufacturer of Bitcoin mining chips in the country after Bitmain, is making plans to launch an Initial Public Offering (IPO) in New York.

The story is being reported by Bloomberg, citing "people with knowledge of the matter". As Chepicap reported earlier, Canaan saw their IPO application lapse last November, at the Listing Comitee of the Hong Kong stock exchange. Their raisings goal was $1 billion. Main competitors Bitmain and Ebang have not received approval for their applications so far.

Regardless of the undiscolsed source comments, there is no certainty yet that the IPO will be launched, and even less approved. 

Beijing-headquartered Canaan has been selling Bitcoin mining equipment since 2013 and reported revenue close to $200 million in 2017.

Read more: Canaan Creative unveils new A911 mining rig along with mining heater and more; Canaan introduces the world's first Bitcoin mining TV

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