Bitcoin Miner Maker Canaan Confidentially Files for IPO in US: Report
Canaan Creative, the major bitcoin miner manufacturer, has confidentially filed for an IPO in the U.S., say IFRAsia sources.
The China-based manufacturer had cut the pricing for its bitcoin miners by half during the first three months.
The shortage of new mining machines caused by the coronavirus outbreak could curb computing power growth from Chinese miners who contribute over 65% of Bitcoin’s hash power.
Shares of Canaan Creative, one of the few publicly traded crypto miner manufacturers, fell below $2 Monday, their lowest after going public last year.
Cryptocurrency mining computer-maker Canaan Inc. may have picked the worst time for its initial public stock offering.
Avalon bitcoin miner maker Canaan Creative has just formally filed for a $400 million US IPO.