As bitcoin world wobbles, mining rig company plans $2 billion IPO

As bitcoin world wobbles, mining rig company plans $2 billion IPO By Alun John and Jennifer Hughes HONG KONG, May 22 (Reuters) – Bitcoins are worth less than half of what they were in December. Mining them is 60 percent less profitable than it was in 2017. Even retailers of hobbyist mining rigs say they are seeing fewer customers. Why, then, is Canaan Inc, a leading cryptocurrency mining rig supplier, looking to raise up to $2 billion, according to two sources with knowledge of the deal, in the …

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