China-based car dealer Cango Inc. has turned to Bitcoin mining, raising $256 million from Bitmain Technologies for a hashrate of 32 EH/s. 🚗💰

Cango, which produced 363 BTC in November, accounts for 4% of the daily BTC production worldwide. The company is rapidly rising in the sector with mining equipment hosted in the US.

Cango’s move is seen as a strategic move at a time when BTC prices are hovering around $100,000.