Cango's Entry into BTC Mining May Become One of the World's Largest Miners 🚩🚩🚩
Automotive trading service provider Cango entered the Bitcoin mining sector in November, investing $400 million to acquire 50 EH/S of computing power, immediately becoming one of the largest miners in the world.
The current Bitcoin computing power hovers around 823 EH/S, and once Cango's 50 EH/s is fully operational, it will provide about 6% of the computing power behind Bitcoin.
For reference, the largest publicly listed miner, MARA Holdings (MARA), has slightly over 47 EH/s of computing power, while the second largest, CleanSpark (CLSK), and Riot Platforms (RIOT) have 32 EH/s and 26 EH/S, respectively.
Elon Musk themed puppy 𝗽𝘂𝗽𝗽𝗶𝗲𝘀, with huge potential in the future, worth following!
