Canaan Creative ASIC Producer to Hold an IPO

According to the data released in January, Canaan Creative's annual profit was 410 million yuan ($ 64 million), which is 600% more than the profit for 2016
10 May 2018   1586

The second largest Chinese producer of bitcoin mining equipment Canaan Creative intends to hold an initial public offering (IPO) on the Hong Kong Stock Exchange. The company is going to raise $ 1 billion, South China Morning Post reports.

According to the publication, the final decision regarding the listing on the Hong Kong stock exchange has not yet been made.

In 2016 and 2017, Canaan Creative, based in Hangzhou, planned to conduct an IPO on the Chinese market, but could not do so because of regulatory barriers. It is also known that previously, as an alternative, Canaan considered American sites. Now, it can become the first blockchain company that went to the Hong Kong stock market.

According to the data released in January, Canaan Creative's annual profit was 410 million yuan ($ 64 million), which is 600% more than the profit for 2016.

Litecoin to Implement Reward Halving Successfully

Block reward was reduced from 25 LTC to 12.5 LTC on block 1,680,000
06 August 2019   170

Today, on August 5, the reward for the Litecoin block for miners was halved.

Halving happened on block 1,680,000, changing the block reward from 25 LTC to 12.5 LTC. The next halving will take place in four years - tentatively on August 2, 2023, as a result of which the block reward will decrease to 6.25 LTC, making digital silver even more scarce.

Litecoin Block Reward Halving Countdown
Litecoin Block Reward Halving Countdown

According to litecoinblockhalf, 75% of the total Litecoin supply has been mined so far. The current inflation rate of the coin is 4.26%, and after four years it should drop to 1.80%.

Many investors were sure that the market had long “digested” the positive expectations in connection with a decrease in cryptocurrency emissions and expected either a sideways price movement or even a decrease in the LTC rate.