{
Cango Inc.

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}
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001122334455554433221100

Cango divests China business to focus exclusively on Bitcoin mining

Cango has divested its legacy business in China to focus entirely on Bitcoin mining. This strategic shift marks a significant pivot for the company as it embraces the growing cryptocurrency sector.
StartupNews.fyi
Cango Inc. CHN
Business & Industry, News Article
21:39 03.04.2025

Chinese auto dealer invests 256 million dollars in Bitcoin mining expansion

Cango Inc., a Shanghai-based car dealership, has invested $256 million in Bitcoin mining, acquiring 32 EH/s from Bitmain Technologies. The company extracted 363 BTC in November, positioning itself as the fifth-largest public Bitcoin miner globally, with plans to expand its hashrate to 50 EH/s by 2025. Despite China's mining ban, Cango's venture is thriving, significantly boosting its revenue and market cap.
CryptoPotato
United States Dollar Cango Inc. Marathon Digital Holdings Inc CHN USA Max Huang
Finance & Economy, Market Report
20:36 21.12.2024
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