shard_2013Full Member
Posts: 634 · Reputation: 287
#1Aug 28, 2020, 04:14 PM
Cango, the miner on NYSE, just sold a whopping $143 million in Bitcoin and cut production costs by 19%. They did this by shutting down some outdated gear and using those funds to tackle their debt.
I thought it was just another miner story until I noticed they’re also tied to AI infrastructure stuff. Makes sense, I guess, but is it really a trend now? Here’s a snippet I found:
"reduced costs by 19% by shutting down inefficient equipment, and sold Bitcoin to pay down debt."
Anyone else see this connection?
I mean...lots of miners jumping into AI lately. What’s the deal with that? Is this smart or just a fad?