Chinese Cryptocurrency Mining Company Plans to File IPO Outside of China – Bitcoinist.com

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Chinese Cryptocurrency Mining Company Plans to File IPO Outside of China - Bitcoinist.com

Canaan Creative, among the globe ’ s leading cryptocurrency mining tools producer is preparing to introduce an IPO.


A Bright Future for Cryptocurrency Mining

They state a climbing trend raises all watercrafts, and also as the rate of interest in cryptocurrencies remains to expand, so as well does the rate of interest in cryptocurrency mining. Consequently, GPU and also ASIC tools suppliers have actually reported an extreme surge sought after. Following this fad, Hangzhou-based cryptocurrency mining tools producer Canaan Creative reported a rise in 2017 for their items.

Even when the worldwide cryptocurrency market experienced a collision, the majority of cryptocurrency miners are still confident regarding the future of the marketplace. Canaan is just one of the leading suppliers of cryptocurrency mining tools and also presently products around a quarter of ASIC miners. The Chinese business is presently preparing to introduce an IPO, however exactly what has actually actually captured some onlookers by shock is the business ’ s intends to submit beyond China.

The Canaan IPO

In 2016, the cryptocurrency miner-manufacturer aimed to obtain provided in China via a $485million back-door listing however was not able to do so as a result of regulative problems. The business is presently preparing to introduce an IPO beyond landmass China. Hong Kong and also the United States have actually both been drifted as feasible nations were the IPO can happen. The co-chairman of Canaan, Jianping Kong, summarize the business ’ s choice:

We … like providing outside landmass China as we remain in a worldwide service.

Kong urges that Canaan ’ s choice to introduce an IPO beyond China has absolutely nothing to do with the nation ’ s current restrictions on cryptocurrency mining and also trading procedures, however instead since the listing procedure takes as well long.

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