Mining Giant Canaan Creative Files For $400m IPO In U.S.

Chinese language cryptocurrency mining big Canaan Inventive has filed to be a publicly-traded firm in the US.
On Oct. 28, Canaan Inventive filed for an preliminary public providing (IPO) with the U.S. Securities and Change Fee (SEC) to lift $400 million, whereas planning to be listed on the Nasdaq underneath the ticker CAN.

Canaan reportedly filed a $200 million IPO draft request with the U.S. regulators in July, however the formal F-1 type was not made public till right this moment.

If profitable, Canaan, which is among the three main Chinese language crypto mining firms alongside Bitmain and Yibang Worldwide, might turn into the primary China-based mining agency to be publicly traded within the U.S.
Bitmain already filed to record an IPO with the U.S. SEC in June 2019, following the expiration of its IPO itemizing utility with the Hong Kong Inventory Change in March.

In response to the SEC submitting, Canaan generated $394 million in income in 2018, with a web earnings of $8.three million. Nevertheless, the designer and producer of Bitcoin mining machines has skilled a complete complete earnings lack of $45.Eight million in 2019.

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