Canaan Creative, a major Chinese mining equipment company, has completed a new round of fundraising, CoinDesk reports, citing local media. According to them, the company attracted "several hundred million dollars", with which its capitalization exceeded $ 1 billion.
A few months ago, Canaan’s initial public offering (IPO) application on the Hong Kong Stock Exchange was canceled because it was not able to get approval in due time. In January, it was reported that the company may try to hold an IPO in New York.
Attracting funding, especially given its volume, is a rather remarkable event, as mining companies were among those representatives of the cryptocurrency industry that were affected most by the decline in the market.
For example, a competing company, Ebang, recently released information about a “substantial decrease in profits” in the third quarter of 2018. Bitmain reported a loss of $ 500 million for the same period in updated reporting, transferred to the Hong Kong Stock Exchange. If a Bitmain listing hearing is not scheduled until March 26, her application, like the Canaan application earlier, will expire.
