Cango sells Legacy China Business, everyone goes in Bitcoin Mining: Report

Cango, a Chinese group, publicly agreed to sell its ancient Chinese operations to an entity linked to the point point point in an attempt to go to Bitcoin (BTC) Mining, according to a report issued by miners.

Kango has agreed to sell old Chinese car financing business to Ursalpha Digital Limited in a $ 352 million deal, According to To the report.

In addition, the points are said to be 32 Exhashes per second (EH/S) to Cango. Mag, a mining worker, said that the deal effectively brings mining assets in Betumin to the public market.

Exhashes measures the contribution of miners to the Bitcoin network, which is the total computing power that secures the network.

Magin Mag said that the Ltd. Digitter has the same title of the company and the founding manager for Antalpha, an entity that is eventually controlled by Bitco Miner Bitmain.

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Trump’s family connection

Our points have suffered from scrutiny after the country included its black artificial intelligence, according to Bloomberg.

According to Bloomberg, Bitmain A. The relationship of work with the American bitcoinTrump’s mining entity was created in March as part of a deal with a cottage 8, which is an provider of power and computing infrastructure.

On March 31, bought HUT 8 The majority of the majority of the American coin of bitcoin (Former American Data Centers), among its founders, the sons of US President Donald Trump, Donald Trump Junior and Eric Trump.

HUT 8 has transformed Bitcoin mining equipment to Bitcoin America, which reports are studying a preliminary general offer (IPO), according to Bloomberg.

Bitcoin America said it will focus on encryption mining, while HUT 8 targets the data center infrastructure for applications such as high -performance computing.

In 2025, Bitcoin mining struggles struggled Amid the low prices of cryptocurrency and pressure on business models caused by the Bitcoin Network half of April, according to the JPMorgan research note that is shared with Cointelegraph.

Every four years, the BTC quantity is cut for each “block” – a package of transactions stored in the chain – in half. Half mining bonuses in April from 6.25 BTC to 3.125 BTC per block.

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