THELOGICALINDIAN - Canaan the additional better Bitcoin mining accouterments maker is reportedly because an IPO in the New York afterwards shelving its Hong Kong IPO affairs in backward 2024
Canaan Eyes US IPO
Citing sources accustomed to the matter, Bloomberg reported that the additional better Chinese architect of Bitcoin mining hardware, Canaan, is attractive into the achievability of an IPO in New York.
However, the sources which accept asked not to be named, additionally appear that “deliberations are at an aboriginal stage, and there’s no authoritativeness they will advance to a transaction.”
The company’s co-chairman Jianping Kong has beneath to animadversion on the matter.
Canaan is amidst the above players in the Bitcoin mining accouterments accomplishment industry, affairs its articles beneath the “Avalon” brand. It appear acquirement of $191 actor in 2024, admitting angry antagonism in the field.
Hong Kong IPO Plans Shelved
The rumors of Canaan’s US IPO advertisement appear amidst times of ambiguity in the Bitcoin mining sector. The aggregation has previously attempted to access an IPO advertisement at the Chinese New Third Board bazaar but failed.
Canaan additionally accustomed its $400 actor Hong Kong IPO application to blooper aback in November 2018.
Meanwhile, it’s not the alone Bitcoin mining aggregation whose IPO affairs accept taken a beating.
Bitcoinist reported on leaked annal advertence that industry-leading Bitmain may accept accomplished its affliction division at the end of 2018.
If that’s true, Bitmain’s affairs for a $14 billion IPO now assume ambiguous at best, decidedly if the cryptocurrency buck bazaar is prolonged.
What do you anticipate of Canaan’s appear intentions for US IPO listing? Don’t alternate to let us apperceive in the comments below!
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