Cango, publicly recorded Chinese conglomerate, agreed to sell his older Chinese activity to Peer Bitmain entity in order to obtain all-in on Bitcoin (BTC) extraction, in accordance with the MINER MAG report.
Cango agreed to sell his older Chinese financial company Ursalpha Digital Circumscribed in a contract worth $ 352 million, According to to the report.
In addition, Bitmain is reportedly moving 32 exahashes per second (EH/s) to Cango. Miner Mag said that the contract effectively transfers Bitmain’s mining assets to the public market.
Exahashes measures Górnik’s contribution to the Bitcoin Hashrate network, the total power protecting the network.
Miner Mag said that Ursalpha Digital Circumscribed has the same corporate address and founder director, like Antalpha, an entity finally controlled by the president of Bitcoin Miner Bitmain.
Proxies for Cango shares in Nyse increased by 25% this month. Source: Google Finance
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Connection of the Trump family
Bloomberg informed Bloomberg, Bitmain experienced the US analysis after the country on the black list of artificial Sopghgo intelligence.
According to Bloomberg, Bitmain has working relations with American Bitcoin, a mining entity associated with Trump created in March under a contract with Hut 8, a supplier of power and computer infrastructure.
On March 31, Hut 8 bought a majority ownership of participation in American Bitcoin (formerly American Data Centers), whose founders are the sons of the US President Donald Trump, Donald Trump Jr. and Eric Trump.
According to Bloomberg, Hut 8 moved its Bitcoin mining equipment to American Bitcoin, which apparently considers the initial public offer (IPO).
Companies have announced that American Bitcoin will focus on cryptographic extraction, while Hut 8 aims at the infrastructure of the data center for applications, such as high -performance calculations.
In 2025, Bitcoin mining campaigns fought among decreasing prices of cryptocurrencies and pressure on business models caused by the April half of the Bitcoin network, in accordance with the JPMorgan research note provided by Cointelegraph.
Every four years, the amount of BTC extracted on the “block” – a package of transaction data stored on the chain – is cut in half. April exceeded mining prizes from 6.25 BTC to 3.125 BTC per block.
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