Bitcoin News Today: Cango Mines 147 BTC Weekly Joins 50 EH/s Club Holdings Hit $509M

Bitcoin miner Cango Inc. (CANG) has announced the production of 147 Bitcoin (BTC) in a single week, elevating its total holdings to 4,387.1 BTC, valued at over $509 million, as of July 5, 2025 [1]. This update positions the New York Stock Exchange-listed firm as the third publicly traded miner to surpass 50 exahashes per second (EH/s) of installed hashrate, joining peers such as Marathon Digital and CleanSpark. The milestone reflects Cango’s strategic shift toward Bitcoin mining, including a recent acquisition of 18 EH/s of active hashrate from Antalpha, a Bitmain-affiliated entity, which boosted its operational capacity to 50 EH/s [1].

The firm’s decision to retain mined coins—despite a broader trend of miners depositing approximately 16,000 BTC to exchanges in July—highlights its “full HODL” approach to treasury management. This strategy contrasts with market dynamics where miners often sell Bitcoin to cover operational costs, particularly amid rising energy expenses and network difficulty adjustments. Cango’s accumulation of over 4,380 BTC underscores its long-term vision to build a robust reserve, potentially insulating itself from short-term price volatility while leveraging economies of scale in mining operations.

Cango’s hashrate expansion aligns with industry trends where computational power has become a critical metric for competitive advantage. At 50 EH/s, the firm joins a select group of miners capable of maintaining network security and efficiency. The achievement follows a restructured corporate strategy, including a board overhaul and the appointment of Peng Yu as CEO. Yu emphasized the team’s focus on scaling beyond the current 50 EH/s threshold and expanding Bitcoin reserves while exploring green-energy initiatives [1]. These moves suggest a capital-intensive approach, likely involving reinvestment of profits or external financing, both common in the capital-heavy mining sector.

The timing of Cango’s growth is notable against a backdrop of mixed market signals. While Bitcoin traded near $116,000 as of July 21, 2025 [2], analysts attributed recent price fluctuations to whale selloffs, such as those reported via Galaxy Digital. Cango’s decision to retain Bitcoin holdings, despite such volatility, signals confidence in the asset’s long-term value proposition. However, the firm’s success remains contingent on factors like energy costs, hardware depreciation, and regulatory developments, which could impact profitability in future periods.

Cango’s operational scale now places it in a competitive bracket with other high-hashrate miners, many of whom report weekly BTC earnings between 100–150 BTC [1]. Its performance of 147 BTC per week suggests it is operating near the upper end of this range, potentially enhancing its appeal to investors prioritizing high-capacity mining assets. The broader industry’s focus on hashrate concentration also raises questions about network decentralization, though Cango’s output remains a reflection of its operational efficiency rather than a determinant of network security.

The firm’s trajectory highlights the maturation of the Bitcoin mining sector, where scale and technical capabilities increasingly define market leadership. As Cango transitions from auto finance to cryptocurrency mining, its ability to sustain high hashrate while managing costs will be pivotal. The absence of forward-looking guidance in recent announcements leaves future performance subject to Bitcoin’s price trajectory and the effectiveness of its operational execution.

Source: [1] [Bitcoin miner Cango generates 147 BTC in a week, joins 50 EH/s club with holdings above 4,380 BTC] [https://www.theblock.co/post/364283/bitcoin-miner-cango-treasury-ehs-club?utm_medium=rss&utm_source=rss]

[2] [BTC to USD: Bitcoin Price in US Dollar] [https://www.coingecko.com/en/coins/bitcoin/usd]