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Chinese Bitcoin miner Cango reported a significant increase in production in Q2 2025, mining 1,404.4 BTC. Despite high expenses, the company incurred a net loss. Quarterly revenue was RMB 1 billion, with Bitcoin mining contributing RMB 989.4 million. Cango increased mining capacity to 50 EH/s and acquired a 50MW facility in the US for long-term infrastructure and energy security. CEO Paul Yu highlighted the success of the asset-light model in scaling operations.
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