Bitcoin mining company Cango will consolidate shares at a 10:1 ratio on July 20.

TechFlow reports, on July 10, according to PR Newswire, NYSE-listed Bitcoin mining company Cango (CANG) will consolidate its Class A and Class B ordinary shares at a ratio of 10:1 at 5:00 PM ET on July 20, meaning every 10 shares will be consolidated into 1 share. The company expects its Class A ordinary shares to start trading on the New York Stock Exchange on a post-consolidation basis from July 21, with the stock ticker remaining CANG.

After the consolidation is completed, Cango's total authorized share capital will remain unchanged, fractional shares will be rounded down and canceled according to the rules, without compensation.