The Chinese automotive transaction firm turned bitcoin miner Cango issued an update to its shareholders.
The average network hashrate rose 9% to an average of 1,031 EH/s last month, according to the bank.
Cango purchased a mining facility in Georgia to split capacity between self-mining and hosting in order to grow income and BTC holdings.
Cango Inc. generated 147 bitcoin this week and now holds 4,387 BTC, as the restructured miner joins MARA and CleanSpark in surpassing 50 EH/s of hashrate.
With hashprice hovering near break-even levels, miners liquidated 115% of April production.
Cango purchased 50 EH/s worth of mining power towards the end of 2024, making it one of the biggest players in the bitcoin mining industry.