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by: xpoolPosted on: April 5, 2025

Cango Shifts Gears, Selling Auto Finance Unit to Expand Bitcoin Mining

Cango has made a significant strategic shift, selling its Chinese auto financing business for $352 million. The move will allow the company to fully dedicate resources towards developing its Bitcoin mining operations. Through an agreement with Bitmain, Cango gains access to 32 exahashes per second (EH/s) of hash power, securing a major foothold in the public Bitcoin market.

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  3. Bitcoin Mining Power Hits New Highs, But Network Usage Remains Low
  4. Bitcoin Miner Losses Top $6 Billion in March: Market Factors Under the Microscope
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