Chinese language mining big Canaan to Public in November within the US: sources

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The Chinese language crypto-mining big Canaan Inventive plans to seem as a publicly traded firm in the USA in November 2019, based on an unconfirmed report.

Canaan points 1.26 billion shares

Canaan Inventive, which Reportedly has submitted an preliminary public providing of $ 200 million (IPO) request to the US regulators in July, will subject 1.26 billion shares to be closed on October 20, Chinese language crypto-outlet 8BTC reported October 10, indicating "folks with data of the matter."

The corporate reportedly declined to touch upon the information to 8BTC on the time of publication.

As well as, the corporate has reportedly accomplished all preparatory procedures for its IPO and plans to attain a valuation of $ 2 billion to $ three billion, the report reviews.

One of many three Chinese language mining giants

If reported, Canaan is one in all three main Chinese language crypto mining corporations alongside Bitmain and Yibang Worldwide. If profitable, Canaan may change into the primary Chinese language-based mining firm to start out public buying and selling within the American Canaan & # 39; s largest competitor, Bitmain, Reportedly filed an IPO with the US Safety and Trade Fee in June 2019, after the expiration time of its IPO itemizing utility on the Hong Kong Inventory Trade in March.

In response to 8BTC, Canaan co-chairman Jianping Kong claimed weeks in the past that the SEC has an excellent understanding of blockchain and cryptocurrency, noting a major potential for conforming industrial corporations to change into public within the US

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