Canaan Creative is pushing ahead with its IPO, which could raise $1bln, reports announced this week.
Citing anonymous sources, Bloomberg added that while the filing did not mention a specific fundraising target, the figure “could” circle $1bln - a figure which had previously appeared earlier this month.
The move would create further competition for mining stalwart Bitmain, with Canaan currently already controlling around 15% of the Bitcoin chips and hardware equipment market.
In an interview with Reuters last month, meanwhile, co-chairman Jianping Kong said the numbers were equal to “a quarter of the world’s bitcoin blockchain computing power.”
Major IPO backers appearing on the filing are Morgan Stanley, Deutsche Bank AG, Credit Suisse Group AG and CMB International Capital Ltd.
Canaan has yet to issue a public statement about the move, declining comment after a request from Reuters Tuesday.