Reuters: Canaan Creative's IPO application has expired and may not be completed this year

According to Reuters, the Hong Kong Stock Exchange website shows that Canaan Creative's Hong Kong IPO application has expired six months after submission, with a fundraising target of about US$400 million. The prospects of other Chinese bitcoin miners are in doubt.

Sources said that the Hong Kong Stock Exchange has many questions about Canaan's business model and prospects, and Canaan cannot complete its IPO this year because the Hong Kong Stock Exchange has not updated the listing hearing. In addition, Ebang International's IPO will not be completed this year, and Bitmain is still receiving inquiries from the Hong Kong Stock Exchange and the China Securities Regulatory Commission.