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 price movements in a milder way. Here’s how they performed compared to other major stocks 👇
P.S: In this week’s update, I’ve removed BitMine and Bit Digital from our mining index. While both companies still participate in mining, their core narrative has shifted toward Ethereum staking, which likely falls outside the focus of those specifically tracking Bitcoin mining exposure.
As a result, the index may look a bit different from last weeks. That said, if you'd like to customize it, you can always adjust the constituents on the “Index” page (available to all "Professional" users).
Major Company Updates
- Bitfarms converts Macquarie debt facility to $300M project financing and draws additional $50M to accelerate HPC/AI development at Panther Creek campus (link)
- Soluna and KULR Technology Group announce 3.3 MW hosting partnership at Project Sophie (link)
- IREN prices $875 million convertible notes offering (link)
- Neptune Digital Assets achieves over $70 million Bitcoin treasury, leveraging mining, staking, and derivatives (link)
- Bit Digital Inc. purchases 31,057 ETH with convertible notes proceeds, raising capital at a premium to mNAV (link)
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 💜