Bitcoin mining chip maker Canaan is said to consider U.S. IPO

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Canaan Inc., China’s second-biggest maker of Bitcoin mining hardware, is considering listing in the U.S. after shelving plans for a Hong Kong initial public offering, people with knowledge of the matter said.

The Chinese company, which was earlier targeting to raise about $1 billion, is discussing the possibility of selling shares in New York as soon as the first half, according to the people. Deliberations are at an early stage, and there’s no certainty they will lead to a transaction, the people said, asking not to be identified because the information is private.

Canaan’s Hong Kong listing application lapsed in November. Jianping Kong, the company’s co-chairman, declined to comment.

Bitcoin has fallen 79 percent from its record high in December

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