China’s Canaan aims to raise $400 mln in New York, after aborting previous efforts to list in Hong Kong and on the mainland. But its financials and prospects look as volatile as the cryptocurrency itself, says sharonlamhk:
Chinese bitcoin-mining hardware maker Canaan Inc. filed on Oct. 28 for an initial public offering on the Nasdaq. The company plans to raise $400 million, according to Reuters.
Canaan says in its filing that it will use the proceeds to fund research into artificial intelligence and blockchain research, and also pay off debts.
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