Cango Mines 656 BTC in Q2, Posts Net Loss Due to Mining Rig Impairment

Cango, a NYSE-listed Bitcoin miner, reported its second-quarter earnings. The company mined 656 BTC during this period and earned $47.4 million from mining revenue.

The total revenue for Cango was $50.8 million, with the remaining $3.4 million coming from other sources.

Despite a net loss of $81.6 million due to impairment charges and disposal losses on mining rigs, Cango's operating hash rate stood at 27.58 EH/s.