U.S. Firm Cango Reorganizes and Streamlines Bitcoin Mining Operations Amid Declining Profitability

U.S. Bitcoin (BTC) mining company Cango reported on February 6th that its operational status has been impacted by a decline in hash price, leading to a reduced operational hash rate. Despite having a hash rate capacity of 50 EH/s (exahash per second), the average operational hash rate has fallen to 34.55 EH/s. The hash rate is a critical measure in cryptocurrency mining, representing the computational power per second used to mine and process transactions.