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   214

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.

GMO Internet to Release 7nm Bitcoin Miner

Mass production is planned to begin on June 6;  shipment starting by the end of October
24 May 2018   150

Japanese IT-company GMO Internet intends to release the world's first devices for bitcoin mining based on 7-nm chips before the end of this year. This is reported by Coindesk.

The company will start production of the new B2 miner on June 6, and its deliveries will begin in late October.

The announcement was made after several months of research and development of technology for the future device. Company reported on its plans to develop ASIC miner last September. It is expected that the device will be able to provide greater computing power with less electricity, but more detailed information will be provided along with the official announcement in June.

In addition to selling B2 to other miners, GMO Internet plans to install new devices on its own farms. Last year, the company allocated $ 90 million to develop its own business in this area.