Canaan, one of the most influential mining producers, has decided to introduce Initial Public Offering for the Hong Kong and US markets. Users will soon be able to mine Cryptos on their televisions if things go according to the plans.
Canaan Creative Co. Ltd, that produces ASIC mining equipments, is going to introduce an IPO for Hong Kong and US digital coin community.
Previously, the organization was in extreme trouble trying to get the stocks listed on Chinese market. Co-chairman Jianping Kong informed, “We … prefer listing outside mainland China as we are in a global business”. The tough outlook of the government towards the Bitcoin Industry is not a reason behind their decision to look abroad, says Canaan. However, listing in mainland China is on their to-do-list by issuing depository receipts.
Mining Televisions sets:
Along with the Initial Public Offering, the company has gathered revenues of about one billion yuan in 2017. N.G. Zhang the founder and Chief Executive Officer of Canaan, says that the plan is to employ a total of 200 people in the beginning, in Beijing, Hangzhou and intends to recruit more.
The company now intends to make use of the chip developmental informations and procedures to introduce a new set of products and appliances, including television sets that can mine Cryptos even while one is asleep. Other notable works include chips for artificial intelligence (AI) applications and brand new hardwares for other influential digital coins such as Litecoin.
The company is speculated to profit huge sum of money from Chinese governmental initiatives to allow and support local tech support organizations to be independent and stop its dependency on foreign companies since the international tensions regarding cryptos and trade wars are likely to come. “As an integrated circuit company, we are supported by government policies”, Mr Jianping Kong stated.