Mining Giant Canaan Creative Files to Go Public in the US Markets

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Beijing-based Canaan Creative, a leading manufacturer of blockchain servers and solutions for repetition ASIC chips, has again filed to go public (this time in the US markets). The company, which is one of the world’s largest crypto mining equipment producers, filed its initial public offering (IPO) prospectus with the US Securities and Exchange Commission (SEC) on October 28. The firm noted that it’s planning to list on Nasdaq, the world’s second-largest stock exchange, under the ticker CAN. Canaan is reportedly targeting a placeholder amount of $400 million for the raise. The firm’s final amount of the planned raise, valuation and share prices have not been disclosed. Canaan’s filing revealed that the Hangzhou, China-headquartered Bitcoin mining hardware maker lost $45.8 million during the six months ending June 30, 2019. During this time period, the company’s revenue totaled $42.1 million. During the first half of last year, Canaan generated $25 million in…

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