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Canaan, A Bitcoin Mining Hardware Maker Files for $1 Billion IPO
The world’s second-largest bitcoin mining hardware maker, Canaan Creative has just been involved in the submission of their application for a Hong Kong initial public offering. This venture could raise close to $1 billion.
This is according to the people who are knowledgeable about the matter.
The Chinese based organization might start their trading ventures in July. This is in accordance with one of the people who requested not to be identified since the piece of information is private.
The Canaan listing, therefore, might just be the first Hong Kong-based IPO emanating from the cryptocurrency sector. The organization has around 155 shares in the entire global market from computer equipment and also the bitcoin-based mining chips as compared to the Chinese based competitor Bitmain.
Why ‘Bitcoin Jesus’ is so bullish about Bitcoin cash
Cryptocurrency users and developers around the world are adopting bitcoin cash at faster rates than bitcoin core, Roger Ver, one of the first investors of bitcoin, told CNBC.
Bitcoin cash, a bitcoin offshoot, split off from bitcoin last year after a small group of developers decided to add upgrades that would improve transaction efficiency. The original Bitcoin is being referred to as Bitcoin core to differentiate it from the other version.
But Ver, who is sometimes called “Bitcoin Jesus” because he was one of the first investors of bitcoin, said the Bitcoin core software is “slow, expensive and unreliable.”