The price of shares of the Chinese mining giant Canaan Creative suddenly jumped up 1.5 times. So far, this is the only manufacturer of mining equipment from China, which is traded on a traditional exchange.

Shares of the Chinese mining equipment manufacturer Canaan Creative rose by 50% and are currently trading at $6.78. At the peak, Canaan shares reached $8.34, doubling in price within one day on 12 February. That day, Canaan's stock trading volume reached 11 million shares, compared with an average daily value of 250,000 shares.

However, Canaan shares are still trading lower than 21 November 2019, when the Chinese company's securities were listed on Nasdaq. In fact, Canaan's stock price returned to the December 2019 level, pushing off the bottom. The lowest share price was recorded on 11 February, when one Canaan share on Nasdaq cost $4.05.

The reason for the current increase in stock prices may be the approaching halving in the bitcoin network, when the reward to miners for mined blocks will be reduced by half to 6.25 BTC. In anticipation of this event, mining farms are decommissioning old computing plants and ordering equipment with higher energy efficiency and hashing speed, so the demand for mining equipment is growing. In addition, due to coronavirus in China, many Chinese manufacturers notify clients that there may be delays in supply of new ASICs. This situation also fuels the demand for new computing machines.

Given that Canaan is included in the Nasdaq listing, they should disclose financial indicators, which means that investors in the next quarter can see a drop in the company's quarterly income due to ASIC supply delays.

The shares of other cryptocurrency companies, such as Hut 8, Bitfarms and Argo Blockchain, have also grown significantly since the beginning of the year, rising 76%, 90% and 28%, respectively.