Cango Inc. Boosts Bitcoin Reserves to Nearly $700M, Enters Global Top 20
Cango Inc. has bolstered its Bitcoin reserves, now valued at nearly 700 million USD. The company added 101.7 BTC in September, pushing its total to 5,810 BTC. This places Cango 18th in the global Bitcoin 100 treasury rankings, alongside notable companies like Marathon Digital and Hut 8.
Cango's mining efforts in September yielded 616.6 BTC, slightly down from August's 663.7 BTC. Despite this, the company's average daily mining rate remained robust at 20.55 BTC. Cango's hashrate also surged to 44.85 Exahashes per second (EH/s) in September, demonstrating its growing mining power.
Looking ahead, Cango plans to diversify its revenue streams by expanding into High-Performance Computing (HPC). This strategic move, coupled with its strong Bitcoin treasury management, indicates a commitment to sustainable growth. Cango's growing Bitcoin reserves provide the company with additional financial strength and strategic flexibility.
With its substantial Bitcoin holdings and expanding mining capabilities, Cango Inc. has solidified its position as one of the world's leading publicly listed companies in Bitcoin treasury rankings. Its planned HPC expansion further signals the company's intent to drive growth and innovation in the cryptocurrency space.
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