SHANGHAI, Dec. 5, 2024
/PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"),
a leading automotive transaction service platform in China, today announced its production update
for crypto mining business in November 2024.
As previously announced by the Company on November 19, 2024, the Company has completed the
acquisition of on-rack crypto mining machines with an
aggregate hashrate of 32 Exahash per second ("EH") for a total
purchase price of US$256 million in
cash (the "Cash-Settled Transaction") from a leading manufacturer
of digital currency mining servers. The Company and such
manufacturer closed the Cash-Settled Transaction through assignment
to the Company of all hash computing power of the mining machines
to be delivered in the Cash-Settled Transaction, and transfer of
these machines' legal title to the Company is expected to occur at
a later stage as agreed by the parties.
Bitcoin Mining Update for November 2024
- Number of Bitcoins produced in November: 363.9
- Average number of Bitcoins produced per day: 18.85
- Total number of Bitcoins held as of November 30, 2024: 363.9
- Total number of Bitcoins sold in November 2024: 0
- Deployed hashrate: 32 EH/s
- Average operating hashrate: 29.75 EH/s
Investor Relations Contact
Yihe Liu
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: ir@cangoonline.com
Helen Wu
Piacente Financial Communications
Tel: +86 10 6508 0677
Email: ir@cangoonline.com
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SOURCE Cango Inc.