Chinese crypto mining manufacturer Canaan Creative has completed a multimillion-dollar funding round

Chinese cryptocurrency mining manufacturer Canaan Creative has completed a multimillion-dollar funding round, local finance news outlet Securities Times reported on March 11.

Canaan, which has not officially confirmed the report, is rumored to have raised an unspecified sum from as yet unknown backers.

The size of the investment, according to the Times, which cites “informed sources,” lies in the hundreds of million of dollars, while the company’s worth is reportedly now in the billions of dollars.

“From the point of view of market capitalization, after the current round of financing, Canaan’s valuation is worth billions of dollars,” the publication added, likewise without naming specific figures.

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Source: https://cointelegraph.com/news/mining-giant-canaan-seals-hundreds-of-millions-of-dollars-in-new-funding-report