Bitcoin mining equipment manufacturer Canaan files for $1B IPO

posted 5 months ago
Canaan Inc., the world’s second largest maker of bitcoin mining hardware, submitted a listing application to the Hong Kong stock exchange, this would be the world's biggest crypto related IPO.

Canaan aims to start trading as soon as July, a person with knowledge of the matter said, asking not to be identified because the information is private. The company, based in Hangzhou, sold 300,000 bitcoin mining rigs last year and had revenue of 1.3 billion yuan ($205M). Over the past year, net income surged more than sixfold, according to Tuesday’s filing.

A listing of Canaan would be the first Hong Kong IPO from the cryptocurrency industry.
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