THELOGICALINDIAN - Canaan Creative one of the worlds arch cryptocurrency mining accessories architect is planning to barrage an IPO
They say a ascent course lifts all boats, and as the absorption in cryptocurrencies continues to grow, so too does the absorption in cryptocurrency mining. As a result, GPU and ASIC accessories manufacturers accept appear a desperate acceleration in demand. Following this trend, Hangzhou-based cryptocurrency mining accessories manufacturer Canaan Creative reported a billow in 2017 for their products.
Even back the all-around cryptocurrency bazaar accomplished a crash, best cryptocurrency miners are still optimistic about the approaching of the market. Canaan is one of the arch manufacturers of cryptocurrency mining accessories and currently food about a division of ASIC miners. The Chinese aggregation is currently planning to barrage an IPO, but what has absolutely bent some assemblage by surprise is the company’s affairs to book alfresco of China.
In 2024, the cryptocurrency miner-manufacturer approved to get listed in China through a $485 actor back-door advertisement but was clumsy to do so due to authoritative issues. The aggregation is currently planning to barrage an IPO alfresco of acreage China. Hong Kong and the United States accept both been floated as accessible countries were the IPO could booty place. The co-chairman of Canaan, Jianping Kong, sums up the company’s decision:
Kong insists that Canaan’s accommodation to barrage an IPO alfresco of China has annihilation to do with the country’s contempo bans on cryptocurrency mining and trading operations, but rather because the advertisement action takes too long.
He states:
It is account acquainted that alike admitting Canaan is adverse boxy antagonism from the US-based Bitfury and Beijing-based Bitmain cryptocurrency mining firms, it appear a acquirement of added than 1 billion yuan in 2024. The aggregation is additionally planning to alter its abiding of articles and activate alms home accessories that are run by blockchain accretion ability that can irenic abundance cryptocurrencies. The architect is planning to actualize its own AI chips and specific mining accessories that mines altcoins like Litecoin.
What are your thoughts on Canaan’s plan to barrage an IPO alfresco of China? Do you anticipate that government adjustment may arrest the IPO launch? Let us apperceive in the comments below!
Images address of Canaan Creative, VCG
