Chinese Bitcoin Mining Developer Canaan Acquired for ¥3 Billion

Moderator: moderators

kreslik.news
rank: 5000+ posts
rank: 5000+ posts
Posts: 5183
Joined: Thu Jan 14, 2016 9:36 am
Reputation: 0
Gender: None specified

Chinese Bitcoin Mining Developer Canaan Acquired for ¥3 Billion

Postby kreslik.news » Wed Jun 08, 2016 11:31 am


In what is likely the biggest acquisition in the short history of Bitcoin and blockchain related firms, a mining equipment developer has been sold to an electronics manufacturer in China.

N.G. Zhang, the founder and CEO of Beijing-headquartered Canaan Creative CO., LTD, has confirmed on the company’s website: “Yes, it is true. Canaan is being acquired by LYT.” He did not offer many details on the deal with the industrial and commercial electronics manufacturer but media reports from China suggest that it was a very big one.

LYT reportedly agreed to pay about two billion yuan in stocks and 1.06 billion yuan in cash, for a total price ... (read more)

Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.

Return to “news”