About: Cango Inc. (NYSE: CANG) is primarily engaged in the Bitcoin mining business, with operations strategically deployed across North America, the Middle East, South America, and East Africa. For more information, please visit: ir.cangoonline.com.
Index Update
5-D Volatility: Bitcoin mining stocks mirrored Bitcoin’s volatility. Here’s how they performed compared to other major stocks 👇👇
Major Company Updates
- BitMine Immersion (BMNR) statement on NYSE American listing and access to capital markets (link)
- Digi Power X, via wholly owned subsidiary US Data Centers Inc., awarded Tier 3 ANSI/TIA-942-C “TIA-942 Ready” certification for ARMS 200 AI modular platform (link)
- American Bitcoin debuts on Nasdaq as "ABTC" (link)
- HIVE Digital Technologies completes phase 2 of its Yguazú project in Paraguay, reaching 18 EH/s and producing 8 Bitcoin per day from hydroelectric power (link)
Cindy's thoughts: Last week, news circulated on X suggesting that Nasdaq may begin tightening scrutiny on companies with crypto treasuries. According to the reports, some firms might be required to obtain shareholder approval before issuing new shares to acquire crypto assets.
This triggered a noticeable dip in several treasury-focused stocks. BMNR even issued a public statement addressing the matter directly.
If such a rule does take effect, it might not be a bad thing. It would encourage companies to justify their crypto strategies, rather than jumping on trends without a clear plan - especially when shareholder dilution is significant. That said, I haven't been able to locate an official Nasdaq document confirming this policy. For now, it's more likely in the discussion or planning phase, rather than a concrete rule.
BTW, we’ve started updating the website with the latest operational data as companies begin rolling out their August updates. You can now view Hash Rate, Production, or Treasury as you like. Just select “August 2025” from the dropdown menu. Recently we also added a link to the data source, for those who enjoy deep research.
That’s all for this week! Feel free to drop us a message if you have any suggestions, feedback, or just want to say hi.
Thanks for being part of our journey - see you next week!
Cindy & the BMS Team 💜