Chinese crypto mining chip designer Nano Labs files for $50m US IPO

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/Illustration/File Photo

Nano Labs, a Chinese cryptocurrency mining chip designer, has filed to raise $50 million in an initial public offering (IPO) in the US as it evolves into a metaverse company.

The Hangzhou, Zhejiang-based company, which filed a heavily-redacted prospectus with the US Securities and Exchange Commission (SEC), has yet to decide on the pricing of its American depositary shares (ADS).

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