Cango enters the bitcoin mining industry and may become one of the largest miners in the world
2025-01-03 17:15:15
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Auto trading service Cango entered the bitcoin mining space in November, paying $400 million for 50 EH/s of hashrate, instantly becoming one of the largest miners in the world. Bitcoin's hashrate is currently hovering at 823 EH/s, and once Cango's 50 EH/s is fully online, it will provide about 6% of the hashrate behind bitcoin. For reference, MARA Holdings (MARA), the world's largest listed miner, has a hashrate of just over 47 EH/s, followed by CleanSpark (CLSK) and Riot Platforms (RIOT) at 32 EH/s and 26 EH/s, respectively.
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