After divesting its auto financing unit, Cango significantly increased BTC production to 650.5 in July, driven by a $256M Bitmain rig purchase, positioning it among the top 20 public Bitcoin holders.
Cango, after exiting its auto financing business, boosted its Bitcoin mining output by producing 650.5 BTC in July—up from 450 BTC in June and 954.5 BTC combined in April and May. The company’s $256M acquisition of Bitmain mining rigs, which added 32 EH/s of capacity, has helped it reach total holdings of 4,529.7 BTC (valued at about $512M) and contributed to a 158% stock rally over the past year.