TechFlow news, on June 3, according to Cointelegraph, cryptocurrency mining company Cango has performed impressively after fully transitioning into Bitcoin mining, producing a total of 954.5 BTC in April and May, worth over $100 million. The company has previously sold its traditional business operations in China and is now focused exclusively on Bitcoin mining. Cango operates with an average hash rate close to 30 EH/s and mined 1,541 BTC in the first quarter of this year.
Meanwhile, two co-founders of Cango have reached a $70 million equity transaction with Enduring Wealth Capital, under which they will sell 10 million Class B shares with high voting power. Upon completion of the transaction, Enduring Wealth Capital will gain voting control of the company.
