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Report: Canaan Will Be Listed Publicly in the US in November

Chinese crypto mining giant Canaan Creative plans to list as a publicly traded company in the United States in November 2019, according to an unconfirmed report.

Oct 8. 8BTC reported the unconfirmed news citing several sources.

Canaan Creative declined to comment on the matter to the Chinese crypto outlet 8BTC while the news was published.

$200 Million Initial Public Offerings (IPO) Request

A $200 million initial public offering (IPO) request was filed by Canaan Creative with the US regulators in July.

‘Additionally, the company has allegedly completed all preliminary procedures for its IPO and is planning to reach a valuation from $2 billion to $3 billion, the report notes.’

One of Three Mining Giants in China

Canaan Creative is reportedly one of the biggest Chinese crypto mining companies Bitmain and Yibang International.

The listing of Canaan in the US if true will prove to become the first Chinese mining firm to launch public trading in the United States with major competitors.

Bitmain Too Filed for IPO With the US Regulators

Reportedly, Bitmain too filed to list an IPO with the US regulators in June 2019 when its listing application with the Hong Kong Stock Exchange was expired.

Crypto mining company, Bitmain’s IPO was allowed to go expired due to second thoughts by HKEX. It has plans to list its IPO in the US.

Bitmain will launch the World Digital Mining Map, a platform to connect global crypto miners with farm owners.

8BTC reported that Canaan co-chairman Jianping Kong had a positive view towards the SEC on understanding blockchain technology while hinting a potential for the firm to go public in the US.

Source: Cointelegraph| Image: Coindesk



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