A major Chinese crypto mining giant named Canaan Creative recently filed to be a publicly traded company in the United States. On October 28, Canaan Creative filed an initial public offering (IPO) with the US Securities and Exchange Commission (SEC) in order to raise $400 million. This comes in the midst of the plans for the company to be listed on the Nasdaq market under the CAN ticker.
Canaan reportedly filed a $200 million IPO draft request with the regulators from the United States in July. However, the formal F-1 form was not made public until today. As the Bitcoin news show, Canaan is one of the three major Chinese crypto mining companies alongside Bitmain and Yibang International – and could become the first Chinese crypto mining firm that is publicly traded in the US.
Earlier we reported about Bitmain filing to list an IPO with the US SEC in June 2019, following the expiration of their IPO listing application with the Hong Kong Stock Exchange in March. As the SEC filing showed, Canaan generated $394 million in revenue in 2018 and a net income of $8.3 million. However, the designer and manufacturer of Bitcoin mining equipment experienced a total comprehensive income loss of $45.8 million in 2019.
Currently, the biggest competitor of the Chinese crypto mining giant is Bitmain. The company opened what it claims to be the world’s largest facility for Bitcoin (BTC) mining in Rockdale, Texas this month. The facility was completed thanks to a collaboration with the Rockdale Municipal Development District and the Canadian technology firm DMG Blockchain Solutions.
The lead project manager for Bitmain, Clinton Brown, said that this facility and its launch is “significant to Bitmain’s global expansion plans” and that the state has stable and efficient energy resources which are “fundamental to supporting” what he believes is the inevitable scale of growth of the mining industry.
The fact that a Chinese crypto mining giant joins the battle with Bitmain for the best mining company says a lot about China and the entire crypto economy right now. In fact, we are seeing more and more of these updates right after the President of China announced that the country is focusing on crypto and blockchain from year 2020.
‘Golden Cross’ For BTC May Result In Gains To $26,000 By Halving
“Last time this happened #Bitcoin pumped 170% in under 60 days,” he summarized.His comments were echoed by many other analysts. And as he added that at press time, levels of around $9,800 show that Bitcoin regained support in an overall bullish ascending price triangle, the sentiment was also echoed by another fellow Cointelegraph Markets analyst named Michael van de Poppe, who said:
“And so, we've bounced on the green area around $9,450-9,500. That was heavily needed. We could still see a period of relative calm movements, before we're either attacking the highs at $10,400 or the lows at $9,500.”The past weekend left a significant gap between two Bitcoin futures trading sessions too. Historically, BTC has subsequently "filled" these gaps which is why many believe this will be a week when Bitcoin will visit $10,500. Still, the 'golden cross' is the biggest thing now and makes Wareing the third prominent Bitcoin figure to forecast major short-term gains this month only. Before this, we had Fundstrat's Tom Lee who said that Bitcoin could reach $27,000 by August, again because of the price beating out resistance from its 200-day moving average. After that, we saw Mike Novogratz commenting that BTC/USD might retest its all-time highs of $20,000 by the time of May's block reward halving. Anyways, the price of the most dominant cryptocurrency today is stable at $9,755 and may soon prepare for a jump to $9,800 and then $10,000 which is the five-digit level many are hoping to see Bitcoin reclaim. The coming altcoin news show that ETH, XRP, BCH and BSV have all regained much from their losses and are stable today with new potential gains on the horizon.
Moon Will Help Amazon Support Cryptocurrency Payments
- Through any Bitcoin wallet which is working with the Lighting Network (faster than normal transactions)
- Through the crypto balance on your Coinbase account - this was a big thing in the Coinbase news as all holders of accounts there can pay in a matter of seconds (the apps are interlinked)
Fractal Predicts A Near-Vertical Rise For BTC Above $10,000
Crypto Books Are Still Best Sellers On Amazon For 2020
Central Bank Of Russia Finished Blockchain Pilot For Tokenized Assets
Binance Will Compete With Amazon’s Cloud Services
Cosmos Tendermint Labs Director Resigns Due To Untenable CEO
Ripple Will Be The Amazon For Crypto: Brad Garlinghouse
Worldwide Cryptocurrency Regulation Turns Bearish
Rarible Blockchain Art Platform Sparks Fraud Discussions
New Bitcoin Drop Nets Bitfinex Whale $10 Million In 5 Minutes
GIFTO (GTO) Achieves A $9.65M Market Capitalization
Algorand: Building The First Open & Permissionless Blockchain Protocol
Namecoin NMC Started Trading Low By 15.4% Over Past Week
China Declares Bitcoin As Property! Central Banks Prefer Crypto? SONY “Contactless” Hardware Wallet
JPMorgan Predicts A 60% Recession, Is Crypto The Best Chance Now? | [Bitcoin News // Crypto News]
Ethereum Sees Record Number of Shorts! NEM Blockchain Hub | Samsung Blockchain Supply Logistics
Crypto Jobs Up 300%! Lost BTC 20% Rate of Recovery | Only 45% of Exchanges Meet Security Standards
DC Forecasts Proudly Backed The Global Disruptive Blockchain Innovation Summit
- Ethereum News7 days ago
JPMorgan To Merge With Ethereum’s ConsenSys Platform
- Blockchain News6 days ago
Cornell University Remains Leader In Crypto Education
- Ethereum News6 days ago
TRON Grows On Gambling Dapps And Ethereum On Gaming
- Bitcoin News7 days ago
Bitcoin Enters Five-Digit Zone Again After 4% Overnight Rally
- Bitcoin News5 days ago
Bitcoin On Valentine’s Day: Will Historic Data Favor BTC Bulls?
- Altcoin News5 days ago
Bitcoin And Altcoins Dip Remains Attractive To Bulls Now
- Bitcoin News4 days ago
Bitcoin Bull Run May Last 3 Years With $45,000 High: Tone Vays
- Bitcoin News4 days ago
Bitcoin Bulls Have To Prepare For Cryptocurrency Regulation Challenges