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SHANGHAI , Jan. 2, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a leading automotive transaction service platform in China , today announced its production update for crypto mining business in December 2024 .
The Company has released key metrics from its Bitcoin mining operations, providing an insight into its performance and growth during the past month.
According to the data provided by Cango, it produced a total of 569.9 Bitcoins in December 2024, demonstrating significant progress compared to the previous month when only 363.9 Bitcoins were produced.
In addition, the average daily production of Bitcoins per day increased to 18.4 from 18.9, indicating an enhancement in operational efficiency and effectiveness.
Furthermore, the Company revealed that it now holds a total of 2,933.8 Bitcoins as of December-end, which is a substantial growth from the 363.9 Bitcoins held at the end of November.
Cango also disclosed that no Bitcoins were sold during this period, indicating a strategic decision to hold onto its crypto assets rather than divesting them on the market.
Regarding the Company’s hashrate deployment, it reported that it maintained a constant deployed hashrate of 32 EH/s throughout December. Additionally, the average operating hashrate for the month came in at 30.4 EH/s, which is marginally higher than the previous month’s average of 29.8 EH/s.
Cango’s Bitcoin mining update highlights its commitment to expanding and optimizing its crypto mining operations, as well as demonstrating its potential for long-term growth and success in this space.
About Cango Inc.
Cango Inc. (NYSE: CANG) is a leading automotive transaction service platform in China , connecting car buyers, dealers, financial institutions, and other industry participants. Founded in 2010 by a group of pioneers in China’s automotive finance industry, the Company is headquartered in Shanghai and has a nationwide network. Leveraging its competitive advantages in technological innovation and big data, Cango has established an automotive supply chain ecosystem, and developed a matrix of products and services centering on used car trading and exporting. By working with platform participants, Cango endeavors to make car purchases simple and enjoyable, and make itself customers’ car purchase service platform of choice.
Please visit: www.cangoonline.com for more information about the Company.
Source: cryptocurrencynews.com
