The Bitcoin mining company Cango holds 4.387 BTC, achieving 50 EH/s, and has not sold any coins.

The Bitcoin mining company listed on the NYSE, Cango Inc. (CANG), announced that it has mined 147 BTC this week, bringing the total BTC held to 4,387.1 BTC (valued at over 509 million USD). Cango stated that it is still in "full HODL" mode as it has not sold any coins this year.

This information stands out in the context of other miners ramping up their sales – with about 16,000 BTC (,86 billion USD) being transferred to exchanges as of July 18, according to data from CryptoQuant.

Just less than a month ago, Cango completed the acquisition of 18 EH/s hashrate from Antalpha – a company affiliated with Bitmain – increasing the total mining power to 50 EH/s, making Cango the third publicly listed miner ( after Marathon Digital and CleanSpark) to reach this milestone.

At the beginning of the week, Cango also restructured its entire leadership after shifting its focus from the automotive finance sector to Bitcoin mining. Mr. Peng Yu was appointed as CEO, while Xin Jin (, founder of Antalpha), serves as the Chairman of the Board. The company stated that its goal is to exceed 50 EH/s and expand its BTC reserves through green energy projects.

BTC-1.09%
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