Cango Inc. Announces December 2024 Production Update for Crypto Mining Business
Cango Inc. (NYSE: CANG) has released its crypto mining production update for December 2024. The company produced 569.9 Bitcoins in December, up from 363.9 in November. The average daily Bitcoin production slightly decreased to 18.4 Bitcoins from 18.9 in November.
The company's total Bitcoin holdings reached 933.8 by the end of December, with no Bitcoins sold during the period. Cango maintained its deployed hashrate at 32 EH/s, while the average operating hashrate slightly improved to 30.4 EH/s from 29.8 EH/s in November.
Cango Inc. (NYSE: CANG) ha pubblicato il suo aggiornamento sulla produzione di mining cripto per dicembre 2024. L'azienda ha prodotto 569,9 Bitcoin a dicembre, rispetto ai 363,9 di novembre. La produzione media giornaliera di Bitcoin è leggermente diminuita a 18,4 Bitcoin da 18,9 di novembre.
Le riserve totali di Bitcoin dell'azienda hanno raggiunto 933,8 alla fine di dicembre, senza Bitcoin venduti durante il periodo. Cango ha mantenuto la sua hashrate in uso a 32 EH/s, mentre la hashrate operativa media è leggermente migliorata a 30,4 EH/s rispetto ai 29,8 EH/s di novembre.
Cango Inc. (NYSE: CANG) ha publicado su actualización de producción de minería cripto para diciembre de 2024. La compañía produjo 569,9 Bitcoins en diciembre, en comparación con 363,9 en noviembre. La producción promedio diaria de Bitcoin disminuyó ligeramente a 18,4 Bitcoins desde 18,9 en noviembre.
Las tenencias totales de Bitcoin de la compañía alcanzaron 933,8 a finales de diciembre, sin Bitcoins vendidos durante el período. Cango mantuvo su hashrate desplegado en 32 EH/s, mientras que el hashrate operativo promedio mejoró ligeramente a 30,4 EH/s desde 29,8 EH/s en noviembre.
Cango Inc. (NYSE: CANG)는 2024년 12월 암호화폐 채굴 생산 업데이트를 발표했습니다. 회사는 12월에 569.9 비트코인을 생산했으며, 이는 11월의 363.9 비트코인에서 증가한 수치입니다. 평균 일일 비트코인 생산량은 11월의 18.9에서 18.4 비트코인으로 약간 감소했습니다.
회사의 총 비트코인 보유량은 12월 말까지 933.8에 도달했으며, 이 기간 동안 판매된 비트코인은 없습니다. Cango는 배포한 해시레이트를 32 EH/s로 유지했으며, 평균 운영 해시레이트는 11월의 29.8 EH/s에서 30.4 EH/s로 약간 개선되었습니다.
Cango Inc. (NYSE: CANG) a publié sa mise à jour sur la production de minage crypto pour décembre 2024. L'entreprise a produit 569,9 Bitcoins en décembre, contre 363,9 en novembre. La production moyenne quotidienne de Bitcoin a légèrement diminué à 18,4 Bitcoins contre 18,9 en novembre.
Les réserves totales de Bitcoin de l'entreprise ont atteint 933,8 à la fin de décembre, sans Bitcoins vendus durant la période. Cango a maintenu son hashrate déployé à 32 EH/s, tandis que le hashrate opérationnel moyen s'est légèrement amélioré à 30,4 EH/s contre 29,8 EH/s en novembre.
Cango Inc. (NYSE: CANG) hat sein Update zur Kryptowährungs-Mining-Produktion für Dezember 2024 veröffentlicht. Die Firma produzierte 569,9 Bitcoins im Dezember, was einem Anstieg von 363,9 im November entspricht. Die durchschnittliche tägliche Bitcoin-Produktion sank leicht auf 18,4 Bitcoins von 18,9 im November.
Die gesamten Bitcoin-Bestände des Unternehmens erreichten zum Ende des Dezembers 933,8, ohne dass in diesem Zeitraum Bitcoins verkauft wurden. Cango hielt seine eingesetzte Hashrate bei 32 EH/s, während sich die durchschnittliche Betrieb-Hashrate leicht auf 30,4 EH/s von 29,8 EH/s im November verbesserte.
- 56.6% increase in monthly Bitcoin production (569.9 vs 363.9)
- 156.6% increase in total Bitcoin holdings (933.8 vs 363.9)
- Slight improvement in average operating hashrate (30.4 EH/s vs 29.8 EH/s)
- 2.6% decrease in average daily Bitcoin production (18.4 vs 18.9)
Insights
The December mining data reveals remarkable operational efficiency for Cango's crypto mining division. Production increased by
The deployed hashrate remained stable at 32 EH/s, but the average operating hashrate improved slightly to 30.4 EH/s from 29.8 EH/s, indicating enhanced operational optimization. The company's decision to hold all mined Bitcoin (accumulating 933.8 BTC) suggests a bullish long-term outlook, especially considering the upcoming Bitcoin halving event in April 2024.
For context, Cango's Bitcoin holdings currently represent about
Cango's strategic pivot into crypto mining is yielding substantial results. The monthly Bitcoin production value of
The company's mining operations demonstrate robust scale with 32 EH/s deployed hashrate, putting them in a competitive position among publicly traded miners. The increased production efficiency and Bitcoin accumulation strategy could serve as a hedge against the upcoming halving event, where mining rewards will be reduced by half. This positions Cango to potentially benefit from any post-halving price appreciation while maintaining operational sustainability.
The holding strategy of retaining all mined Bitcoin indicates strong financial flexibility and suggests management's confidence in Bitcoin's long-term value proposition. This approach differentiates Cango from peers who typically sell a portion of their mining rewards to cover operational costs.
Bitcoin Mining Update for December 2024
Metrics | Dec 2024 1 | Nov 2024 1 |
Number of Bitcoins produced | 569.9 | 363.9 |
Average number of Bitcoins produced per day | 18.4 | 18.9 |
Total number of Bitcoins held 2 | 933.8 | 363.9 |
Total number of Bitcoins sold 2 | - | - |
Deployed hashrate 2 | 32 EH/s | 32 EH/s |
Average operating hashrate 3 | 30.4 EH/s | 29.8 EH/s |
1. Unaudited, estimated.
2. As of month-end.
3. Average over the month.
About Cango Inc.
Cango Inc. (NYSE: CANG) is a leading automotive transaction service platform in
Investor Relations Contact
Yihe Liu
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: ir@cangoonline.com
Helen Wu
Piacente Financial Communications
Tel: +86 10 6508 0677
Email: ir@cangoonline.com
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SOURCE Cango Inc.
FAQ
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