Hong Kong IPOs for Three Chinese Cryptocurrency Mining Giants

[kreslik.news]

Three of China’s biggest Bitcoin mining companies are in the process of going public at a time when Bitcoin mining is becoming less and less profitable, according to Reuters.

Bitmain, Canaan and Ebang

The three companies are Bitmain, Canaan Incorporated and Ebang International Holdings. All three manufacturer devices called ASICs, which are devices specifically designed to mine cryptocurrency. Bitmain also owns a number of Bitcoin mining pools.

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Canaan of Hangzhou filed for its IPO in May. It originally announced a $2 billion target, and later revised it to $400 million. ... (read more)