Cango Inc. Marches into Bitcoin Mining, Brave New World!
🌟 Attention everyone! The automotive trading platform Cango Inc. based in Shanghai announced its entry into Bitcoin mining last November. This decision was like dropping a bombshell, instantly sparking curiosity and attention from the outside world! As China's economy slows down, Cango has decided to bypass the domestic mining ban and bravely shift its focus to overseas markets, truly courageous! 💪
According to the latest reports, Cango's traditional business revenue has significantly declined, with Q3 2024 revenue only at 27 million yuan, prompting them to seize this new opportunity in Bitcoin. Cango is collaborating with Bitcoin mining machine manufacturer Bitmain to avoid operating within China, which not only reduces legal risks but also allows them to easily embrace opportunities in the global market! 🌍
So far, Cango has mined 933.8 Bitcoins, and its stock price has skyrocketed since entering the mining sector, becoming the focus of the market, truly amazing! 📈
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