Breakingviews - Bitcoin mining IPO mirrors currency volatility

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Breakingviews - Bitcoin mining IPO mirrors currency volatility
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(Reuters Breakingviews) - It promises all the highs and lows of a real gold rush...

An attendant holds a bitcoin sign during the opening of Hong Kong's first bitcoin retail store February 28, 2014. REUTERS/Bobby Yip/File Photo

The Hangzhou-based company, which sells equipment used to solve complex puzzles to uncover, or mine cryptocurrency, has had several recent false starts. It tried and failed to list in China through a reverse merger and allowed its application to debut in Hong Kong to lapse. In an effort to pay down debt and fund research, Canaan is now trying its luck stateside with Nasdaq even as the bourse tightens restrictions on the IPOs of small Chinese companies.

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