Cango Cuts Bitcoin Mining Output 30% as Hashprice Slump Continues

TLDR: Cango operated at 34.55 EH/s in February, running 30% below its 50 EH/s installed capacity Bitcoin hashprice dropped to the low-$30 range, squeezing miners with costs near $40/PH/s daily Cango sold 4,616 BTC in February — over ten times its monthly production — to cut loan exposure The asset-light Bitmain colocation model enabled fast [...]

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