Manufacturer of mining equipment Canaan Creative has completed a new round of funding, according to CoinDesk.

According to a local source Securities Times, known for the line hardware manufacturer Avalon has attracted “hundreds of millions of dollars” of investment. As a result, the capitalization of the company exceeded $1 billion.

The news remarkable that the notorious “Kriptonika” hurt mining industry. Leading manufacturers of equipment for mining cryptocurrency, including Bitmain, faced serious financial difficulties. The resumption of activity can talk about restoring investor confidence in the long-term prospects of the market.

Not discouraged, apparently, and competitor Canaan — Ebang, which plans to produce 400 thousand new devices for mining.

We will remind, according to some Canaan is considering holding an IPO in the United States.

In the spring of last year, the company has applied for an initial public offering on the Hong Kong stock exchange with a goal to raise $1 billion later, However, this application lapsed.