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Bitcoin Mining Firm Canaan Ends Trading Debut Flat After IPO

Bloomberg business news
With Bitcoin Falling, Grayscale Files to Launch Bitcoin Trust
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Shares of Bitcoin mining machine maker Canaan Inc. soared and fell in their trading debut before ending the day a penny below their offer price in its $90 million initial public offering.

Canaan’s American depository shares closed at $8.99 Thursday in New York trading. Earlier, the shares rose as much as 44% and fell as much as 8.8% after Canaan sold 10 million shares for $9 each Wednesday, pricing them at the bottom of the marketed range.