On November 21 the Chinese mining rig manufacturer Canaan Inc launched its initial public offering IPO sale of 90 million worth of US shares Canaan shares initially sold for 899 but plummeted over 48 on December 16 to 465 per share Since then Canaan has launched a series of five new mining rig batches that process between 48 terahash per second THs to 68THs for January and February delivery periods Canaan stock sold on the Nasdaq Global Market has also managed to jump back 39 since the significant plunge in midDecember

The Beijingbased crypto firm Sino Global Capital launched a 200 million fund backed up by crypto exchange FTX to invest in projects such as DeFi Web 30 and NFT infrastructure The news was first reported by The Block along with the firms CEO comments about their expectations and further approach

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On November 21 the Chinese mining rig manufacturer Canaan Inc launched its initial public offering IPO sale of 90 million worth of US shares Canaan shares initially sold for 899 but plummeted over 48 on December 16 to 465 per share Since then Canaan has launched a series of five new mining rig batches that process between 48 terahash per second THs to 68THs for January and February delivery periods Canaan stock sold on the Nasdaq Global Market has also managed to jump back 39 since the significant plunge in midDecember