Search results for Cango
Crypto
Trump-backed American Bitcoin presses ahead with mining expansion despite wider losses
Trump-backed bitcoin miner American Bitcoin (ABTC) has completed the rollout of 11,298 ASIC machines at its Drumheller facility in Alberta, Canada. The expansion raises its total ASIC holdings to about 89,242 and boosts computing power to 28.1 exahash per second. The company recently posted a $59.5 million net loss for 2025\'s fourth quarter. Its shares rose about 11.7 percent to around $1.38.
Crypto
Bitcoin miners shaken by worsening profitability as bitcoin selling surges
Listed bitcoin mining firms sold more than 32,000 BTC in the first quarter of 2026, exceeding the total sold in all of 2025, Cointelegraph reported. Mining profitability has deteriorated, with hashprice falling below $35 per PH/s per day, near a break-even level for many operators. Industry reserves have declined to about 1.8 million BTC. CoinShares expects further capitulation by high-cost miners if prices do not recover.
Crypto
Bitcoin miner Cango faces NYSE delisting risk, seeks way out with $75 million funding
Bitcoin mining company Cango has received a delisting warning from the New York Stock Exchange after its shares traded below $1. The company must lift both its closing price and 30-day average share price above $1 within six months. Cango also announced additional funding, including a $65 million strategic investment by management and $10 million raised via a convertible bond agreement with Hong Kong-listed DL Holdings.
