🚀 Chinese auto loan company Cango has made a rapid entry into Bitcoin mining! The Shanghai-based company aims to become one of the world’s largest Bitcoin miners with a mining power of 50 EH/s. Cango bought 32 EH/s of power from Bitmain for $256 million and will receive the rest in exchange for stock.

🔍 Cango’s move has increased the company’s stock value by 362% and attracted attention. Bitcoin mining is also used to balance energy grids. Do you think Cango’s strategy will be successful? Share your thoughts in the comments! 💬