From Bitcoin minning throught $2 Billion IPO to Artificial Inteligence

Canaan Creative CO., LTD the worlds second largest Bitcoin mining hardware supplier plans to raise $2 billion funds in largest Bitcoin-related IPO. According to the Reuters, Canaan will present itself as a chip designer which focuses on artificial intelligence and blockchain technology development:

“Their customers happen to be bitcoin miners. But they are a chip company, not a bitcoin company.”

Jehan Chu, managing partner at Kenetic Capital, a Hong Kong-based cryptocurrency investment firm:

“Investors are always looking for crypto ‘picks and shovels’, and that’s what this is”