Canaan May Hold IPO in USA

Canaan's main competitors, Bitmain and Ebang, had already filed IPO applications to HKEX; still not approved
09 January 2019   576

Chinese mining giant Canaan Creative may be considering the possibility of holding an initial public offering in the United States, Bloomberg reports.

As a source familiar with the situation points out, Canaan’s access to one of the American stock exchanges may occur in the first half of this year. However, the process of preparing for an IPO itself is still in its earliest stages.

Note that last spring Cana Creative submitted an application for an IPO on the Hong Kong Stock Exchange (HKEX) in order to raise $ 1 billion. However, later this application became invalid.

Lsst year, applications for IPO were filed to HKEX by Canaan's main competitors, Bitmain and Ebang. Until now, these applications are not approved.

Mining Ban in China Won't Affect Bitmain & Canaan

This is said by the companies themself; also, Bitmain and Canaan did not indicate whether they intend to move the business abroad
11 April 2019   201

The prospect of a ban on mining in China will not have an impact on the operating activities of mining giants Bitmain and Canaan in the short term. This was stated by representatives of the press services of companies, 8btc reports.

At the same time, Bitmain and Canaan did not indicate whether they intend to move the business abroad, if the mining ban is set at the legislative level.

Note that China currently holds a dominant position in mining Bitcoin and Ethereum.

According to local cryptoexperts, mining equipment manufacturers will exist as long as Bitcoin has value.

Earlier in April, the National Development and Reform Commission of China issued a bill that called mining an “undesirable industry” and proposed banning it.

So far, the initiative has no legal force. Public discussion of the bill will last until May 7.