COINOTAG News reported on January 3rd that Cango Inc. has disclosed significant growth in its Bitcoin production metrics for December 2024. The company achieved a remarkable output of 569.9 Bitcoins, reflecting an impressive 56% increase from November’s total of 363.9 Bitcoins. As of the end of December, Cango’s Bitcoin reserves surged to 933.8 coins, with the firm opting not to liquidate any holdings during this timeframe. Moreover, Cango’s average hash rate demonstrated positive momentum, reaching 30.4 EH/s, representing a 2% growth compared to the previous month.
In a prior announcement, the Shanghai-based automotive trading platform revealed its acquisition of mining equipment from Bitmain for a substantial $256 million, a strategic move aligned with its ongoing Bitcoin mining transformation. This endeavor included a production output of 393 Bitcoins in November, positioning Cango as a notable player in the cryptocurrency mining sector.