(Yicai Global) Oct. 29 -- Canaan Creative, the world's second-largest maker of cryptocurrency mining hardware, has filed for a USD400 million initial public offering on the Nasdaq, the New York-based stock exchange said on its website. It has tried twice before to go public.

Canaan warned in its prospectus that any adverse developments in China's regulatory environment could have a negative impact on business. The Hangzhou-based company submitted its listing plans to the US Securities and Exchange Commission yesterday.

The company allowed an application to list in Hong Kong lapse last November. The bookrunners for the New York IPO are Citigroup, Credit Suisse Group, CMB International Capital and China Renaissance Holding.

Canaan had an almost 22 percent market share in the first six months of this year, according to research and consulting firm Frost & Sullivan. Its main market is China, which accounted for 91.5 percent and 76.1 percent of business in 2017 and 2018.

Revenue more than doubled to CNY2.7 billion (USD382 million) last year from 2017, but net profit slid 67 percent to CNY122.4 million (USD17.3 million).

Founded in 2013, the company mainly provides supercomputing solutions through its proprietary high-performance computing application-specific integrated circuits, according to the prospectus.