Cango shares fall after $81.6 million Q2 net loss report
Cango shares dropped more than 21% after the bitcoin miner reported an $81.6 million second-quarter net loss while continuing to scale back mining operations. Total Q2 revenue was $50.8 million, down roughly 50% from Q1.
Shares of bitcoin miner Cango dropped more than 21% on Tuesday after the company reported an $81.6 million second-quarter net loss as it continued to scale back its mining operations.NYSE-listed Cango recorded $50.8 million in total revenue in the second quarter, down roughly 50% from the first qua…