Techub News reports, according to CoinDesk, that Chinese auto lending company Cango has begun to expand into Bitcoin mining. The company has spent $400 million to acquire 50 EH/s of computing power. Of this, 32 EH/s of computing power was purchased from Bitmain for $256 million in cash, while the remaining 18 EH/s of computing power was acquired from Jin Chuang Technology in exchange for $144 million in equity, representing approximately 37.8% of the company's equity.