Derived from Bijiie, Cango reported a 60.6% increase in Q3 revenue to $224.6 million, driven by a rise in Bitcoin mining output. The company, which transitioned to Bitcoin mining one year ago, mined 1,930.8 BTC in the quarter, with hash rate increasing to 46.1 EH/s by October. Cango has shifted from a China-focused automotive services firm to a publicly traded mining company, now among the top 15 public Bitcoin miners by market cap. The firm also outlined plans for energy projects in Oman and Indonesia to support its AI and green energy computing network strategy.
Cango Q3 Revenue Surges 60% as Bitcoin Mining Output Rises
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