NEWS WRAP: Cango agrees to sell China-based business
The $352 million sale could pave the way for a Singapore-linked entity to take control of Cango as it transitions from car trader to bitcoin miner By Doug Young…
BitFuFu rides crypto wave, flexible business model to lofty profits
The provider of digital asset mining services is growing its portfolio of self-operated mining machines and data centers as high crypto prices fuel strong revenue and earnings gains Key Takeaways:…
NEWS WRAP: Investor approaches Cango for control of the company
The car trader that recently shifted to bitcoin mining said a group wants to buy a controlling stake from Cango’s co-founders By Doug Young Cango Inc. (CANG.US) said on…
BRIEF: Coolpad loss widens as hardware margins drop
Cellphone maker Coolpad Group Ltd. (2369.HK) announced on Thursday it expects to report a net loss of HK$245 million ($31.5 million) to HK$265 million for 2024, widening 10% to 20%…
Cango gets crypto jolt back to revenue growth, profitability
The company, whose main business was previously auto trading, said its revenue skyrocketed in the fourth quarter after its move into bitcoin mining Key Takeaways: Cango’s revenue rose more than…
BRIEF: Cango mines 569.9 bitcoins in December
Auto trader Cango Inc. (CANG.US) said on Thursday it mined 569.9 bitcoins in December, its first full month of mining the cryptocurrency following its move into the sector a month…
Cango’s latest pivot uncovers gold in bitcoin mining
The auto trader is making a huge bet on cryptocurrency, mining more than 4% of the world’s bitcoin output since it entered the business in November Key Takeaways: Cango has…
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