From Cointelegraph
April 3, 2025 02:12 PM:

Cango sells legacy Chinese operations to focus on Bitcoin mining, with Bitmain acquiring auto financing business in a $352 million deal. Bitmain transfers 32 exahashes per second to Cango, bringing mining assets to public market. Shares up 25% on NYSE. Source: Google Finance.

Bitmain faces US scrutiny after country blacklists AI affiliate Sopghgo. Working with American Bitcoin, a Trump-family-backed mining entity. Hut 8 buys majority ownership in American Bitcoin, transferring mining equipment for potential IPO. American Bitcoin focuses on mining, while Hut 8 targets data center infrastructure. Bitcoin mining stocks struggle amid declining prices and halving effects, per JPMorgan research.

Read more at Cointelegraph: Cango sells legacy China business, goes all-in on Bitcoin mining: Report