Canaan’s US IPO Loses Credit Suisse, Aims to Launch at Smaller Valuation

Canaan’s US IPO Loses Credit Suisse, Aims to Launch at Smaller Valuation

Last Updated on The world’s second-largest Bitcoin mining machine maker, Canaan Inc.’s IPO will be smaller than previously expected. The company is downsizing the IPO to $400 million as it lost the support of Credit Suisse. In an October filing for the initial public offering, the Chinese bitcoin mining manufacturer listed Credit Suisse Group AG as its lead underwriter.