Cango’s Bitcoin Bonanza: Mining 602.6 BTC in October! 🐉

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Cango Inc., that most industrious of modern-day alchemists, hath conjured forth 602.6 Bitcoin in October 2025, amassing a hoard of 6,412.6 BTC by month’s end. Such feats, one might say, rival the efforts of a dragon guarding its gold, albeit with less fiery breath and more exahashes. The daily yield, 19.44 BTC, fell slightly from September’s 20.55 BTC-perhaps the miners grew weary or simply desired a siesta. 🕊️

The company, in a proclamation worthy of a bard’s ballad, declared its intent to hoard Bitcoin indefinitely, eschewing sales “for the long term” (read: until the next market bubble bursts). On Nov. 3, it announced the termination of its American depositary receipt program-a move to eliminate “intermediary fees” (i.e., quill-pen-wielding scribes) and embrace direct share trading. By Nov. 17, its Class A shares shall dance upon the New York Stock Exchange, unshackled from the chains of third-party mediators. 🗡️

Mining Operations and Holdings Strategy

Cango’s hashrate, that most mystical of metrics, surged to 46.09 exahashes per second in October, a modest leap from September’s 44.85 EH/s. With a deployed hashrate of 50 EH/s and 90% operational efficiency, the company’s mines in North America, the Middle East, South America, and East Africa hum along like a well-oiled clockwork of chaos. One might imagine the machines whispering secrets to the ether. 🧙

Strategic Positioning for AI Expansion

Paul Yu, Cango’s CEO, a man whose ambitions could fill a cathedral, proclaimed the company’s readiness to seize AI and energy opportunities. “Operational maturity!” he declared, as if it were a spell to summon prosperity. Since November 2024, Cango hath tread the crypto path, now eyeing AI with the fervor of a sorcerer’s apprentice. Its Georgia mining facility, purchased for $19.5 million, shall serve as a proving ground for in-house expertise-though one wonders if the real magic lies in the coffee the engineers drink. ☕

Like a pack of wolves circling the same carcass, Cango joins peers such as Galaxy Digital (moonlit metamorphosis into AI data centers) and TeraWulf ($9.5B AI infrastructure deal). By 2026, Cango plans a high-performance computing pilot program, a “dynamic computing platform” balancing Bitcoin mining and AI workloads. One cannot help but chuckle at the audacity of it all-mining Bitcoin by day, training neural networks by night, all while the stock market watches with bated breath. 🤖

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2025-11-03 20:36