CANG (CANG.US) announces August bitcoin operation data: operational hashrate up 7% month-on-month, bitcoin reserves surpass 5,000 tokens

智通财经2025/09/03 16:27

By: 智通财经

According to information from Zhitong Finance APP, Cango (CANG.US) has announced the latest updates on its Bitcoin production and mining business as of August 2025. The average operational hash rate has seen a significant month-on-month increase, and Bitcoin reserves have surpassed 5,000 coins.

Paul Yu, CEO and Director of Cango, stated: "Since July, the newly deployed 50 EH/s hash rate has been fully put into operation, with the average operational hash rate increasing by 6.9% compared to the previous month. This month, we mined 663.7 Bitcoins, pushing our Bitcoin reserves past the milestone of 5,000 coins.

This strongly validates our strategy and further strengthens the foundation for our sustainable growth. Meanwhile, we continue to enhance our core mining business through targeted initiatives to improve mining machine efficiency. This includes meticulous maintenance of existing mining machines to ensure stable operation, selective upgrades of older machines, and our recent acquisition of a 50-megawatt Bitcoin mining farm in Georgia, USA."

Cango is primarily engaged in Bitcoin mining, with its business strategy covering North America, the Middle East, South America, and East Africa. Driven by advancements in blockchain technology, the increasingly widespread application of digital assets, and the company's commitment to business diversification, Cango entered the crypto asset sector in November 2024. At the same time, Cango continues to operate its online international used car export business through AutoCango.com, enabling global customers to more easily access high-quality vehicle inventories from China.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops

Lock your assets and earn 10%+ APR

Lock now!

The article analyzes the background of the Federal Reserve potentially ending quantitative tightening and shifting towards quantitative easing, explores the current liquidity crisis facing the financial system, compares the differences between 2019 and the present, and suggests that investors hold gold and bitcoin to cope with possible monetary expansion. Summary generated by Mars AI. This summary is produced by the Mars AI model, and its accuracy and completeness are still being iteratively improved.

MarsBit•2025/10/22 19:43

The Lives of Korean Retail Investors: 14 Million "Ants" Flock to Cryptocurrency and Leverage

The article discusses the high-risk investment behavior of retail investors in South Korea, including going all-in on stocks, leveraged ETFs, and cryptocurrencies. It also examines the socio-economic pressures behind this behavior and its impact on individuals and the financial system. Summary generated by Mars AI This summary was produced by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.

MarsBit•2025/10/22 19:42

Was Bitcoin "stolen" or "seized"? The mysterious connection between $14 billion worth of Lubian old coins and the US government

Wallets related to suspected fraudster Chen Zhi have transferred nearly $2 billion worth of bitcoin. The U.S. Department of Justice has accused him of involvement in a $14 billion crypto fraud case. Chen Zhi is currently at large, and some of the bitcoin has been seized by the U.S. government. Summary generated by Mars AI.

MarsBit•2025/10/22 19:41

Fed loses access to "small non-farm payroll" data

Cointime•2025/10/22 19:09

CANG (CANG.US) announces August bitcoin operation data: operational hashrate up 7% month-on-month, bitcoin reserves surpass 5,000 tokens

You may also like

Trending news

Crypto prices