Canaan, a Hangzhou-based company that produces Bitcoin mining machines, has filed for an IPO on the NASDAQ under the ticker symbol “CAN” and is seeking to raise up to $400 million in capital.
In the first half of 2018, China’s fin-tech enterprises raised around 230 billion yuan ($35 billion), over 80 percent of the global total, and three giants took more than half of the amount fundraised in China.
