Bitcoin Mining Firm Canaan Halted Trading in Volatile Debut

Business Maverick: Bitcoin Mining Firm Canaan Halted Trading in Volatile Debut

The Hangzhou, China-based company’s American depository shares fell 3.5% to $8.68 at 11:47 a.m. in New York trading. The shares had opened at $12.60 – 40% above their offer price – before falling sharply. Trading was halted for five minutes due to volatility. Canaan sold 10 million shares for $9 apiece on Wednesday, according to a statement.