Mining
giant Canaan Creative files for $400 million US IPO
Canaan Creative, the mining
company behind the popular Avalon bitcoin miner has recently (28 Oct)
filed its initial public offering prospectus with the U.S. Securities and
Exchange Commission (SEC).
The mining company intends to
be listed on the NASDAQ and seeks to raise $400 million. The filing shows
that the mining company made a profit of $25 million in 2018 but a loss of
$45.8 million in the first half of 2019.
This filing marks the third
attempt of Canaan Creative to go public after its first and second attempts
in China and Hong Kong respectively failed. The company has been tentatively
valued at $2 - $3 billion by the Chinese media.
