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Chinese Chip Maker With a Hand in Crypto Mining Plans $2.8B IPO

Hong Kong-listed SMIC plans to raise $2.8 billion via an initial public offering on the Shanghai Stock Exchange, in hopes of advancing its chip making practices. The company is working with Canaan Creative to build a new crypto miner.

By David Pan
Updated Sep 14, 2021, 8:47 a.m. Published Jun 1, 2020, 10:35 p.m.
China-based Semiconductor Manufacturing International Corporation (SMIC) aims to raise fresh capital in a bid to further develop its chip-making technologies. (Credit: Shutterstock)
China-based Semiconductor Manufacturing International Corporation (SMIC) aims to raise fresh capital in a bid to further develop its chip-making technologies. (Credit: Shutterstock)