Bitcoin News

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The expected IPO of Chinese hardware manufacturer Bitcoin Canaan Inc. began yesterday. The public offer of $ 90 million was a bit amazing given the previous valuations and the company completed its first trading day.

Bitcoin mining shares return to $ 9
This week, Chinese mining giant Canaan Inc. completed its initial public offering in the United States for $ 90 million. The figure for the first time seems impressive that a Chinese company based in Bitcoin is registered, however, it is lower than its original valuation of $ 400 million in October.

Bloomberg said the mining hardware manufacturer sold 10 million American Deposit Shares (ADS) on Wednesday for $ 9 per piece. ADS is a stake in the dollar-denominated capital of a foreign-based company available for purchase on the US Stock Exchange. UU.

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According to the official announcement last week, the Hangzhou-based company planned to raise $ 100 million by offering 10 million shares offered between $ 9 and $ 11 according to claims filed with the SEC.