Cango, Inc – ADR (NYSE:CANG) shares are trading higher on possible continued strength after the company announced yesterday that it produced 450 Bitcoins for the month of June.
What To Know: The company reported mining 450 Bitcoin in June, down from 484.5 Bitcoin in May. Average daily production fell slightly to 15 Bitcoin from 15.63 Bitcoin in the prior month.
Cango ended June with 3,879.2 Bitcoin in total holdings, up from 3,429.3 Bitcoin at the end of May. The company did not sell any Bitcoin during the month.
Cango maintained a deployed hashrate of 32 EH/s and reported an average operating hashrate of 29.92 EH/s in June. On June 27, the company completed the acquisition of additional mining machines, increasing total hashrate to 50 EH/s.
CANG Price Action: Cango stock closed Wednesday 12.13% higher at $5.27, according to data from Benzinga Pro.
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