Cango’s Bitcoin Mining Boom: 1,404 BTC Minted, Shifting Business Model

Cryptocurrency giant Cango has announced a stunning Q2 success story, fueled by its aggressive foray into Bitcoin mining. The company, known for its auto trading platform, saw a significant shift in its financial landscape, achieving a monumental 1,404 BTC mined in just the second quarter. This unprecedented feat resulted in over $137 million of revenue – a staggering 98% of total income – directly attributed to their BTC mining operations. 1,404 BTC represents a powerful demonstration of Cango’s commitment to this new endeavor, effectively transforming it into a core component of its future strategy.