Chinese Cryptocurrency Mining Giant Files for $400 Million IPO in US
Everyone should see it! Click here! http://[email protected]/AyAb\nBest cryptocurrency exchanger: https://700.by/101\nBest cryptocurrency trading platform: https://700.by/102\n\nChinese cryptocurrency mining giant Canaan Creative has filed to be a publicly-traded company in the United States. On Oct. 28, Canaan Creative filed for an initial public offering (IPO) with the U. S. Securities and Exchange Commission (SEC) to raise $400 million, while planning to be listed on the Nasdaq under the ticker CAN. Canaan reportedly filed a $200 million IPO draft request with the U. S. regulators in July, but the formal F-1 form was not made public until today. If successful, Canaan, which is one of the three major Chinese crypto mining companies alongside Bitmain and Yibang International, could become the first China-based mining firm to be publicly traded in the U. S. Bitmain already filed to list an IPO with the U. S. SEC in June 2019, following the expiration of its IPO listing application with the Hong Kong Stock Exchange in March. According to the SEC filing, Canaan generated $394 million in revenue in 2018, with a net income of $8.3 million. However, the designer and manufacturer of Bitcoin mining machines has experienced a total comprehensive income loss of $45.8 million in 2019. Canaan’s biggest competitor Bitmain opened what it claimed to be the world’s largest facility for Bitcoin (BTC) mining in Rockdale, Texas, which was completed thanks to a collaboration with the Rockdale Municipal Development District and Canadian technology firm DMG Blockchain Solutions. Clinton Brown, Rockdale lead project manager for Bitmain, said that the facility’s launch is “significant to Bitmain’s global expansion plans” and that the state’s stable and efficient energy resources will be fundamental to supporting what he believes is set to be the inevitable scale of growth of the mining industry.\n\nCheck out @CryptoVideos on Instagram: https://www.instagram.com/crypto_videos/\n\n#canaan #cryptocurrencyprices #bitcoinstocksymbol #cryptocurrencynews #cryptocurrencyexchange #cryptonews #cryptoexchange\r\n\r\nChinese Cryptocurrency Mining Giant Files for $400 Million IPO in US: https://www.youtube.com/watch?v=TCRaNmF3u7Q
Canaan filed for an IPO in the US
China’s Canaan Inc., the world’s second largest Bitcoin mining machine maker, has filed for an initial public offering in the US.
The Hangzhou-based Chinese company filed a $ 400 million filing with the US Securities and Exchange Commission on Monday. The amount is usually a guideline that can change.
Canaan made an attempt to list in Hong Kong last year before its application expired in November. South China Morning Post Says City Exchanges And Regulators Consider IPOs Of Cryptocurrency Companies «premature». Canaan planned to raise up to $ 1 billion in the sale of shares, sources say Bloomberg.
The company reported a net loss of $ 48.2 million for the six months ended June 30, compared with a profit of $ 30.6 million for the same period last year..
Bitcoin price halved from 2017 high to just over $ 9,400 on Monday. Bloomberg reported in June that Bitmain Technologies Ltd., a leading crypto mining company and Canaan’s biggest competitor, is also considering an IPO in the United States..
The placement will be carried out by Credit Suisse Group AG, Citigroup Inc., China Renaissance Holdings Ltd. and CMB International Capital Ltd. Canaan plans to list its shares on the global Nasdaq market under the ticker CAN.