Canaan Creative, one of the world’s largest producers of Bitcoin mining hardware, might be considering an Initial Public Offering (IPO) in the United States.
The chinese company IPO, should it take place, may occur in the first half of 2019, according to a Bloomberg report. However, the process is still in an early phase and there are no certainties — Jianping Kong, Canaan’s co-chairman, declined to comment the news.
The company, founded in 2013, reported $191 million of revenue in 2017 — and has been seeking to go public in Hong Kong, just like major mining firms such as Bitmain and Ebang. Nonetheless, the firm’s application to the Hong Kong Stock Exchange lapsed in November.
Why it is important
- The crypto mining industry has been facing severe challenges after last year’s crypto bear market and related companies are looking for alternative solutions for survival.
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