After not getting permission from the Hong Kong Stock Exchange, Chinese mining equipment manufacturer Canaan Creative applied for its initial public offering in the United States.

According to The Block, the Chinese company Canaan Creative, which produces ASICs for cryptocurrency mining, filed an application with the US Securities and Exchange Commission (SEC) for an IPO on one of the US-based exchanges. The company intends to raise $200 million. Information about the plans of Canaan Creative first appeared in the Chinese network WeChat. In January 2019, there were already rumors circulating in the market that Canaan Creative intended to perform its IPO on the New York Stock Exchange (NYSE).

In 2018, Canaan Creative, the second-largest producer of mining equipment in the world, planned to conduct its IPO on the Hong Kong Stock Exchange (HKEX) and raise $1 billion. But HKEX did not dare to allow Canaan Creative to place its shares due to the ambivalent reputation of the cryptocurrency industry. In November 2018, the Canaan's application for the Hong Kong Stock Exchange lost its force without getting neither official approval nor rejection. Along with Canaan Creative, other mining giants from China, Bitmain and Ebang, submitted applications with the Hong Kong Stock Exchange, but also did not receive official rejection or approval.

In 2018, Canaan Creative co-chair explained that choosing a foreign jurisdiction to conduct an IPO is due to the fact that listing on Chinese exchanges would take too much time.