$CANG

Blocks Bridge Consulting’s Miner Weekly says public bitcoin miners reduced output while AI and compute conversions increased. It cites Core Scientific and TeraWulf shifting revenue toward colocation/HPC, with Core Scientific Q2 colocation $136.7M vs mining $27.5M, and TeraWulf HPC $31.9M vs mining $12.8M. TheEnergyMag estimates the tracked cohort’s realized hashrate fell 13.4% in six months.

Benzinga highlights tech stocks with RSI near or below 30. Eastman Kodak (KODK) filed a prospectus for 4.426 million common shares on July 1, with shares down about 22% over the prior month and a 52-week low of $4.94. KODK rose 1.6% to $7.78. Cango (CANG) and Tucows (TCX) are also listed.

Cango (NYSE: CANG) set July 20 as the effective date for a 10-for-1 reverse share consolidation of its Class A and Class B ordinary shares, with post-split trading expected July 21. The NYSE had issued a minimum-price deficiency notice in March after the Class A average closed below $1 for 30 days. Compliance requires $1 closes and a $1 30-day average.

Cango Inc. (NYSE: CANG) said its shareholders authorized a share consolidation at an EGM on June 24, 2026. The board set a 10-for-1 ratio, effective 5:00 p.m. ET July 20, 2026. Class A shares are expected to trade on a post-consolidation basis July 21 under ticker CANG with a new CUSIP.

Cango Inc. (NYSE: CANG), a Bitcoin miner turned AI-inference play, launched EcoHash on April 13 with EcoLink to target distributed AI inference rather than AI training. The company still mines about 31.7 exahash, earning $98.4m in Q1 mining revenue. Cango sold 6,451 bitcoins for about $442m, cutting long-term debt to $30.6m, and raised $75m for its AI pivot.

Cango Inc. (NYSE: CANG) said shareholders approved at an extraordinary general meeting on June 24, 2026 a share consolidation of its Class A and B ordinary shares at a ratio of up to 10:1, with no fractional shares. A special resolution also adopted amended memorandum/articles reflecting the consolidation. The board has not set the final ratio or effective date.

Cango Inc. announced its April 2026 operational and fleet optimization update, focusing on strategic fleet modernization and enhanced production efficiency. The company aims to upgrade its fleet with the latest technologies and models to boost overall production and meet market demands. This initiative is expected to improve its competitive position in the market.

Cango Inc.'s subsidiary, EcoHash Technology LLC, has launched its commercial AI inference platform to address the significant "Power Gap" between rising AI compute demand and limited grid capacity, forecast to reach 400 TWh by 2030. EcoHash aims to convert Cango’s global energy infrastructure into a distributed AI compute network, starting with a 50-megawatt Georgia facility as a proof-of-concept. The strategy is supported by recent financing rounds totaling $75 million and utilizes the proprietary EcoLink Orchestration Platform to manage geographically dispersed compute capacity.

Cango has optimized its Bitcoin mining strategy to prioritize cash margins, achieving a total operational hashrate of 37.01 EH/s and reducing its average cash cost per coin by 19.3% to $68,215.83 in March 2026. The company strengthened its financial position by selling 2,000 Bitcoins to repay $30.6 million in loans and secured additional capital through a $65 million equity investment and a $10 million convertible bond, supporting its transition towards energy and AI infrastructure. Analysts maintain a "Moderate Buy" rating for CANG, despite a price target downgrade by Greenridge due to the Bitcoin sell-off, viewing Cango as an undervalued player in the Bitcoin mining and AI data center space.

Cango Inc. has released its operational update for March 2026, detailing a strategy focused on optimizing its Bitcoin mining operations for cash margin rather than pure scale. The company has refined its mining fleet, decommissioned inefficient miners, and is migrating capacity to lower-cost power regions, resulting in a significant reduction in cash cost per coin. Additionally, Cango completed a strategic sale of Bitcoins to retire debt, strengthening its balance sheet for its transition into energy and AI infrastructure.