Canaan Creative Explained

Canaan, Inc.
Type:Public
Traded As:NASDAQ:
Location City:Beijing, China
Area Served:Globally
Founder:N.G. Zhang[1]
Key People:N.G. Zhang
Num Employees:>300
Native Name Lang:Chinese
Trading Name:Canaan Creative

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.

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.

Notes and References

  1. Web site: A company that sold 300,000 bitcoin mining rigs last year is seeking the largest crypto IPO ever. Quartz. May 16, 2018.
  2. Web site: Cryptocurrency miner Canaan eyes IPO; bets on China's push for chip industry. Reuters. April 6, 2018.
  3. Book: Lee David Kuo Chuen. Low Linda. Inclusive FinTech: Blockchain, Cryptocurrency and ICO. 21 June 2018. World Scientific. 978-981-323-865-7. 187–.
  4. Web site: Bitcoin Mining Chip Maker Canaan Considers U.S. IPO. . January 8, 2019. live . https://web.archive.org/web/20190707183814/https://www.bloomberg.com/news/articles/2019-01-08/bitcoin-mining-chip-maker-canaan-is-said-to-consider-u-s-ipo. July 7, 2019.
  5. Web site: Canaan gave up the listing of the New Third Board Bitcoin mining machine enterprises collectively disappeared. Sina.com. March 20, 2018.
  6. Web site: Bitcoin Mining Rig Maker Canaan Files for $1 Billion IPO. . May 15, 2018. live . https://web.archive.org/web/20190403155015/https://www.bloomberg.com/news/articles/2018-05-15/bitcoin-mining-rig-maker-canaan-said-to-file-for-1-billion-ipo. April 3, 2019.
  7. Web site: Tse . Crystal . Bitcoin Mining Firm Canaan Ends Trading Debut Flat After IPO . Bloomberg . November 20, 2019.

This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia article "Canaan Creative".

Except where otherwise indicated, Everything.Explained.Today is © Copyright 2009-2024, A B Cryer, All Rights Reserved. Cookie policy.