Nov 21, 2019 New York – Canaan, the world’s second largest bitcoin mining machine manufacturer, was listed as a publicly traded company in the U.S. Jessica Yang, executive vice president of Bitmart, a licensed global digital asset exchange, attended the NASDAQ bell ringing ceremony.

In July 2019, Canaan reportedly filed an application for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). So far, Canaan has finished all of the procedures of an IPO and its valuation was estimated 90 million with $9 per share.

According to Canaan, the fund will be mainly used for research and development of ASIC related AI algorithm and application, the global expansion of AI and blockchain business, the optimization of supply chain, and the repayment of debts arising from restructuring. 

The company achieved revenue of RMB 48 million, RMB 316 million and RMB 1.308 billion in 2015, 2016 and 2017 respectively. As of June 30, 2019, Canaan became the world’s second largest bitcoin mining machine manufacturer. Over the same period, Canan sold 22% of all bitcoin mining machines worldwide.

“The listing of Canaan is a benchmark in the blockchain industry,” said Jessica Yang, Executive Vice President of Bitmart. “With the official listing on the NASDAQ, the secondary market is full of confidence in the valuation of Canaan.” So far, Canaan has made significant progress in business, the market is very active in the subscription of Canaan stock. 

About BitMart 

BitMart is a premier global digital asset trading platform in the cryptocurrency market with over 900,000 users worldwide and ranks among the top 5 crypto exchanges on CoinMarketCap. BitMart currently offers 262 trading pairs with relatively low trading fees in the market. As of today, BitMart has offices in South Korea, Hong Kong, United States, and Nigeria with employees in 15 different countries and regions.

About Canaan

Canaan is the worldwide leader in producing Blockchain servers and designing ASIC microprocessor solutions. Founded in 2013, Canaan products are sold globally. From the very first SHA-256 based upon FPGA technology to the Avalon Blockchain ASIC, Canaan continues to innovate by producing custom designed ASIC microprocessors. With the efforts of its highly skilled development team, Canaan strives to bring in new thoughts to the area of advanced technology ASIC processors and beyond.

This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

You May Also Like Enters Thai Market, Strengthens Presence in Southeast Asia

2nd December 2019, Bangkok  – Over the past 3 months, has…

Eidoo Platform Launches Instant SEPA for Instant Crypto Purchases with Euros

Leading DeFi platform Eidoo has integrated with Instant SEPA, enabling every European…

ILCoin Launches 5 Gb Blocks and Gives Blockchain a Push Towards Wide Adoption

According to the recent announcement, ILCoin Blockchain Project has released 5Gb blocks,…

OceanEx Launches Perpetual Contract and Simulated Perpetual Trading Competition

 According to OceanEx, along with its 1st Anniversary, it officially announced that… Receives Investment for Platform Upgrade to Prepare for Global Industry Growth

5th December, 2019, Singapore – Digital assets trading platform has obtained…

Massive Institutional Bet Removes over 85% of LFE Cash Tokens from Marketplace for 3 Years

Fortune Star Digital Asset Fund (a professional Cayman Islands investment fund) has…