Cango (CANG) announced its production update for crypto mining business in November 2024. The company has completed the acquisition of on-rack crypto mining machines with an aggregate hashrate of 32 EH/s for a total purchase price of $256M in cash from a leading manufacturer of digital currency mining servers. The company and such manufacturer closed the Cash-Settled Transaction through assignment to the company of all hash computing power of the mining machines to be delivered in the Cash-Settled Transaction, and transfer of these machines’ legal title to the company is expected to occur at a later stage as agreed by the parties. Number of Bitcoins produced in November: 363.9; average number of Bitcoins produced per day: 18.85; total number of Bitcoins held as of November 30, 2024: 363.9; total number of Bitcoins sold in November 2024: 0; deployed hashrate: 32 EH/s; average operating hashrate: 29.75 EH/s.
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