Chia Network Files for IPO in the US
Chia Network, Inc. has filed a confidential S-1 application with the US Securities and Exchange Commission (SEC) to begin an initial public offering.
The launch will take place after the SEC has finalized its review process, depending on the market and other conditions.
The volume and price range of the proposed share offering has yet to be announced. In response to this news, cryptocurrency CHIA saw an 11.8% increase, according to CoinGecko, with the current price of the asset being $44.36.
Created by Bram Cohen, the inventor of the BitTorrent protocol, Chia Network uses the Proof-of-Space and Proof-of-Time consensus algorithms.
In April 2021, due to a surge in interest in the coin, miners caused a local shortage of HDDs and SSDs in China.
