China-rsquo;s second-largest Bitcoin mining equipment maker, Canaan Creative, plans to seek an initial public offering (IPO) on the Hong Kong Stock Exchange, South China Morning Post has reported.

According to the report, published earlier today, the Hangzhou-based company wants to conduct an IPO in Hong Kong instead of in the US, though the final decision has not yet been made. Canaan had previously been considering both Hong Kong and the US for a share sale, the newspaper said, citing unnamed sources familiar with the matter. The sources also said that the company was seeking to raise $1 billion through the IPO.