Bitcoin Miner Maker Canaan Considering New York IPO: Report

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China-based Canaan, one of the biggest manufacturers of bitcoin mining chips and devices, is reportedly considering an initial public offering in the U.S. A Bloomberg report on Tuesday, citing people with "Knowledge of the matter," said that Canaan's IPO could be launched in the first half of this year in New York, although the process is still in its early stages.

Canaan had been seeking to go public in Hong Kong to apparently raise about $1 billion.

Major mining firms Bitmain and Ebang also filed IPO applications with the HKEX in September and June of last year, respectively.

Bitmain's IPO. Last month, a person involved in the talks told CoinDesk that the exchange is "Very hesitant to actually approve these bitcoin mining companies because the industry is so volatile."

Its draft IPO prospectus last month, but stated it has seen "Significant decreases" in revenue and gross profit in Q3 2018.

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