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Canaan Crypto Mining ASIC Manufacturer Secures “Hundreds of Millions of Dollars” in Financing Round

Published 03/20/2019, 05:13 AM
Updated 03/20/2019, 06:22 AM
Canaan Crypto Mining ASIC Manufacturer Secures “Hundreds of Millions of Dollars” in Financing Round

Canaan Mining, one of China’s biggest producers of specialized cryptocurrency mining equipment, has secured “hundreds of millions of dollars in financing”, sources close to the company said. This values Canaan in the “billions of dollars” in terms of total market capitalization, reported STCN.

The funding arrives during a difficult time for Canaan, as previous plans to be listed on the Hong Kong stock exchange fell through. Still, the ASIC producer boasts of rising sales, especially in the 2015-2017 period.

The funding is a sign that the Chinese cryptocurrency mining sector remains at least somewhat attractive. The coming days will show if the Bitm...

This article appeared first on Cryptovest

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