Mining company Cango produced 496.35 bitcoins in January and sold 550 bitcoins for company operations

Bitcoin miner Cango Inc. released the latest updates on Bitcoin mining production and operations for January, reporting a total production of 496.35 Bitcoins and sales of 550.03 Bitcoins in January. As of the end of January, Cango held a total of 7,474.6 Bitcoins.

Cango's CEO and Director Paul Yu stated that in January, major regions in North America experienced extreme cold weather and snowstorms, leading to temporary operational disruptions and a decrease in average hash rate. However, favorable network difficulty adjustments partially offset these challenges, and starting this month, the company will selectively sell a portion of newly mined Bitcoins to support the expansion of its reasoning platform and other recent growth plans.