bitcoin: As bitcoin world wobbles, mining rig company plans $2 billion – The Economic Times

HONG KONG: Bitcoins are worth less than half of what they were in December. Mining them is 60 per cent 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 world’s biggest bitcoin-focused initial public offering to date?
Canaan is expected to present itself to investors no…

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