Cango Ditches Cars for Bitcoin: Chinese Platform Invests $352M in Mining

Chinese fintech firm Cango is making a bold move by selling its auto-financing business for a hefty $352 million to Bitmain, a company associated with Bitcoin mining. This shift marks a dramatic pivot towards the cryptocurrency world and signals a major investment in Bitcoin mining operations. Analysts are intrigued by this decision, seeing it as potentially lucrative but also acknowledging the inherent risks of the volatile crypto market.