Chinese crypto mining giant Canaan Creative plans their IPO
|According to source reports, Chinese crypto mining giant Canaan Creative plans to list as a publicly-traded company.
Canaan Creative, which reportedly filed a USD 200 million initial public offering (IPO) request with the U.S. regulators in July, will issue 1.26 billion shares which will be closed on 20th October.
Canaan is one of the three major Chinese cryptocurrency mining companies along with Bitmain and Yibang International. If the company is successful, Canaan would be the first China-based mining firm to launch public trading in the U.S. Canaan’s major competitor, Bitmain, reportedly filed to list an IPO with the U.S. Security and Exchange Commission in June 2019, following the expiration of its IPO listing application with the Hong Kong Stock Exchange in March.
If this does work it would be a massive step for the mining industry. As cryptocurrencies become the future it may be more common for large crypto miners to list on exchanges. I feel then it may be possible to have a crypto-related EFT tied to mining performance.
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