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Crypto miner Canaan eyes IPO; bets on China's push for chip industry

Hangzhou-based Canaan has seen a surge in demand for its mining machines amid a global boom in cryptocurrencies

Reuters  |  HONG KONG 

China's Canaan Creative, one of the world's largest crypto-currency mining equipment makers, said it was considering an IPO outside the mainland, although it did not provide details on a possible time frame or how much the company expects to raise. Hangzhou-based Canaan has seen a surge in demand for its mining machines amid a global boom in cryptocurrencies, with the price of bitcoin spiking more than 1,300 percent in 2017. "We are open to all suitable venues but prefer listing outside mainland China," said Co-chairman Jianping Kong. China is among the top ...

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First Published: Fri, April 06 2018. 12:17 IST
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