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by | Mar 16, 2018 | Hosta

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Canaan Inc., doing business as Canaan Creative and known simply as Canaan, is a China-based computer hardware manufacturer. Established in 2013 by N.G. Zhang,[2] Canaan specializes in Blockchain servers and ASIC microprocessors for use in bitcoin mining.[3][4]

History

In 2013, while still studying for a doctor's degree,[5] N.G. Zhang established Canaan Creative, where he served as chairman and CEO.[6]

In 2016, Canaan attempted a reverse takeover for $466 Millions USD by Shandong Luyitong, a public company listed on the Shenzhen Stock Exchange.[6]

In January 2019, reports surfaced that Canaan is considering an IPO in the United States.[4] Canaan raised $90 million in their November 2019 IPO.[7]

In 2019, Canaan started to trade on Nasdaq.

References

  1. ^ "A company that sold 300,000 bitcoin mining rigs last year is seeking the largest crypto IPO ever". Quartz. May 16, 2018.
  2. ^ "Cryptocurrency miner Canaan eyes IPO; bets on China's push for chip industry". Reuters. April 6, 2018.
  3. ^ Lee David Kuo Chuen; Low Linda (21 June 2018). Inclusive FinTech: Blockchain, Cryptocurrency and ICO. World Scientific. pp. 187–. ISBN 978-981-323-865-7.
  4. ^ a b "Bitcoin Mining Chip Maker Canaan Considers U.S. IPO". Bloomberg News. January 8, 2019. Archived from the original on July 7, 2019.
  5. ^ "Canaan gave up the listing of the New Third Board Bitcoin mining machine enterprises collectively disappeared". Sina.com. March 20, 2018.
  6. ^ a b "Bitcoin Mining Rig Maker Canaan Files for $1 Billion IPO". Bloomberg.com. May 15, 2018. Archived from the original on April 3, 2019.
  7. ^ Tse, Crystal (November 20, 2019). "Bitcoin Mining Firm Canaan Ends Trading Debut Flat After IPO". Bloomberg.

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