Cryptocurrency mining company Cango has performed well after making a full switch to bitcoin mining, mining a total of 954.5 bitcoins worth more than $100 million in two months in April and May. The company has previously sold its traditional business in China to focus on bitcoin mining. Cango operates with an average hashrate of nearly 30 EH/s, and has mined 1,541 bitcoins in Quarter 1 this year.
At the same time, the two co-founders of Cango and Enduring Wealth Capital reached a $70 million equity transaction, which will sell 10 million high-voting Class B shares. After the transaction is completed, Enduring Wealth Capital will gain voting control of the company.
After Cango fully switched to bitcoin mining, it produced more than $100 million in two months
2025-06-03 15:37:48
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