Bitcoin Miner Cango Sells 2,000 BTC, Cuts BTC Production Cost by 19%
Cointelegraph
Cango reduced its Bitcoin production costs by 19% and sold 2,000 BTC to pay down debt as part of a new lean-production strategy.Summary
Bitcoin mining firm Cango has reduced its production costs to $68,215 per coin, marking a 19.3% improvement over the previous quarter by adopting a lean-production model. The company sold 2,000 BTC in March for approximately $137 million, utilizing the proceeds to pay down Bitcoin-backed loans. This move reflects a broader industry trend among miners prioritizing financial deleveraging and cash-margin discipline over expansion.
(Source：Cointelegraph)