Cango Inc. Reports January Bitcoin Mining Production and Operations Update

Bitcoin miner Cango Inc. has released its latest update on Bitcoin mining production and operations for January. According to ChainCatcher, the company produced a total of 496.35 Bitcoins and sold 550.03 Bitcoins during the month. By the end of January, Cango's total Bitcoin holdings reached 7,474.6. Paul Yu, Cango's CEO and director, noted that extreme cold weather and snowstorms in major North American regions caused temporary operational disruptions and a decrease in average hash rate. However, favorable network difficulty adjustments partially mitigated these challenges. Starting this month, Cango plans to selectively sell some newly mined Bitcoins to support the expansion of its inference platform and other recent growth initiatives.