2. Canaan, Nasdaq
Canaan is a ”Selling picks and shovels during a gold rush”-play on the cryptocurrency craze. Bitcoin and other cryptocurrency mining takes serious computing power in order to solve the complex mathematical puzzles that blockchain blocks are built from. China-based/Nasdaq-listed Canaan offer the mining rigs users need. A constantly increasing need for computing power to mine coins has fueled Canaan’s growth for the last couple of years, although 2020 has been tough for the company. It is fair to assume however that Canaan’s fortunes will rise and fall with the bitcoin price also going forward.
