Canaan published information about the upcoming IPO

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Bitcoin miner producer Canaan Creative on Wednesday released more details on the upcoming initial public offering (IPO).

So, Canaan plans to issue 10 million sharespriced from $9 to $11. Thus, the company expects to receive $100 million, which is significantly less than the previously announced figure of $4 million. At $10 per share, Canaan's market value would be $1.6 billion.

Recall, on October 28, the largest competitor Bitmain filed an application for an initial public offering of US shares (IPO). As underwriters: Citi Group, Galaxy Digital and four more companies.