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鈥檚 price movements in a minor way. Here鈥檚 how they performed compared to other major stocks 馃憞
Major Company Updates
- TeraWulf Inc. announces closing of $1.025 billion 0.00% convertible notes offering (link)
- Canaan Inc. wins 4.5 MW mining server contract supporting Japan's power grid stability (link)
- LM Funding America announces private repurchase of shares and warrants (link)
- CleanSpark enters Texas market with land and large-scale power acquisition to rapidly deploy an AI data center in Greater Houston (link)
- TeraWulf expands strategic partnership with Fluidstack through new 168 MW AI compute joint venture (link)
- DMG Blockchain Solutions announces additional partnership with Malahat Nation to establish Indigenous-led regulated utility for clean energy and AI infrastructure (link)
Must Read: Core Scientific announces termination of merger agreement with CoreWeave (link)
What happened: On October 30, 2025, Core Scientific terminated its merger agreement with CoreWeave after failing to receive shareholder approval at a special meeting. As a result, Core Scientific will remain an independent, publicly traded company on Nasdaq under the ticker symbol CORZ.
Cindy's Thoughts: The proposed merger between Core Scientific and CoreWeave is now officially off the table- confirming what the market signaled months ago. Shareholders rejected the proposal, likely due to concerns around valuation and long-term strategic fit (see prior coverage). With the path now cleared, Core Scientific will have to sharpen its focus on winning more HPC deals to stay competitive in this fast-moving AI infrastructure race.
That鈥檚 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 馃挏