TechFlow news, on December 18, according to TheMinerMag, Cango (NYSE: CANG), an automotive transaction service platform headquartered in Shanghai, spent $256 million to acquire Bitcoin mining machines with a total computing power of 32 EH/s from Bitmain, and reported a mining output of 393 BTC in November.
In addition, Cango has also agreed to issue $144 million worth of Cango common stock to acquire additional rack-mounted Bitcoin mining machines with a combined hash rate of 18 EH/s from Golden TechGen—a company owned by Max Hua, former CFO of Bitmain—and other entities.
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