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Cango Revenue Falls 50% as Bitcoin Miner Cuts Hashrate and Pivots to AI

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Cango’s second-quarter revenue fell 50% to $50.8 million as the Bitcoin miner cut hashrate, launched a hedging program, and shifted toward AI compute.

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Cango Revenue Falls 50% as Bitcoin Miner Cuts Hashrate and Pivots to AI

Blockchain Reporter 2h ago

Cango Revenue Falls 50% as Bitcoin Miner Cuts Hashrate and Pivots to AI

Cango’s second-quarter revenue fell 50% to $50.8 million as the Bitcoin miner cut hashrate, launched a hedging program, and shifted toward AI compute.