<p>Bitcoin miner manufacturer Canaan Creative on Wednesday released more details about its impending initial public offering (IPO), per a Renaissance Capital blog <a href="https://www.renaissancecapital.com/IPO-Center/News/66013/Crypto-mining-company-Canaan-sets-terms-for-$100-million-US-IPO">post</a>. </p> <p>According to the article, Canaan plans to offer 10 million equity shares at a price range of $9 to $11. With these terms, the firm is looking to raise $100 million from this IPO, considerably less than the $400 million figure it previously posted in its initial IPO filing.</p> <p>The biggest rival to Bitmain <a href="https://www.theblockcrypto.com/linked/44963/bitmain-competitor-canaan-publicly-files-for-ipo-on-nasdaq">filed</a> for a U.S. initial public offering (IPO) on Oct. 28 with Citi Group, Credit Suisse, Galaxy Digital, and four other firms as underwriters. However, Credit Suisse was removed as a lead underwriter, according to the blog post. The post also confirmed the Nov. 20 IPO date, which The Block first <a href="https://www.theblockcrypto.com/linked/46552/bitmain-rival-canaan-creative-set-for-nov-20-ipo-on-nasdaq">reported</a> earlier this week. </p> <p>At $10 per share, Canaan's fully diluted market value would be $1.6 billion. In the IPO filing, the firm said it controlled 23.3% of the global bitcoin mining machine market share in 1H19, while Bitmain, which has reportedly filed a U.S. IPO as well, took up 64.5%. </p>