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BITCOIN’S RIPPLE EFFECT: MINING HARDWARE PRICES SKYROCKET Mining rig prices in Shenzhen are up 30% YoY, riding Bitcoin’s price surge. Buyers from Russia, the U.S., and Canada dominate the market - but Russia stands out. Dirt-cheap electricity there is turning miners into profit… https://t.co/syXBh3OeAG
MINERS CASH IN: HARDWARE PRICES SOAR WITH BTC BOOM Bitcoin mining rigs in Shenzhen are flexing a 30% price hike over last year, driven by surging demand. Top buyers? Russia, the U.S., and Canada, all chasing profits as BTC skyrockets. What's more? Russia’s dirt-cheap… https://t.co/Q5Z3qORqju
Affected by the surge in Bitcoin prices, the price of Bitcoin mining machines in Shenzhen, China has risen sharply, up 30% from last year, and the buyers are mainly from Russia, the United States, Canada and other places. In particular, the cheap electricity price in Russia makes…
Cango Inc. (NYSE: CANG), a Shanghai-based automotive transaction service platform, has made a substantial shift into Bitcoin mining by acquiring 32 exahashes per second (EH/s) of hashrate from Bitmain for $256 million. This pivot has already yielded significant results, with Cango reporting the production of 393 Bitcoin (BTC) in November alone. The company is also in discussions to acquire an additional 18 EH/s of mining hardware, which would bring its total hashrate to 50 EH/s, potentially matching Marathon Digital Holdings' self-mining capacity. Cango's stock has experienced a remarkable increase of 355% this year, reflecting investor optimism about its new direction in the cryptocurrency sector. This strategic move positions Cango as the third largest publicly listed Bitcoin miner, surprising many in the industry.