Bitcoin Miner Cango Loses $81.6M in Q2, Sending Shares Down 20%
Bitcoin
Cango reported an $81.6 million Q2 net loss, largely linked to non-cash impairment and disposal charges from older mining equipment. Bitcoin mining revenue fell to $47.4 million, while the company produced 656 BTC and reduced its cash cost per coin to $73,313.
BTC
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