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NYSE-listed Bitcoin miner Cango (CANG) said it mined 656 BTC in the second quarter. Of its $50.8 million in revenue, the Bitcoin mining business accounted for $47.4 million.
The company posted a net loss of $81.6 million, with impairment charges and disposal losses tied to declines in mining rig values accounting for a significant portion. As of June 30, local time, its operating hash rate stood at 27.58 EH/s, comprising 19.84 EH/s from self-mining and 7.74 EH/s from leased capacity. Average cash mining cost per BTC fell about 5% from the previous quarter to $73,313. Cango held 1,056 BTC and had $31.2 million in long-term debt.