Cango Inc. reported a net loss of $261.1 million in Q1 2026 due to Bitcoin price declines impacting asset values and mining equipment impairments. Revenue totaled $102 million, mainly from Bitcoin mining, but decreased 43% from the previous quarter as older mining machines were phased out. The company reduced long-term debt significantly from $557.6 million to $30.6 million and holds 1,026 Bitcoins. Cango is also expanding into AI computing with its EcoHash platform, aiming to leverage its energy and computing infrastructure for future growth.
The US Department of Commerce has closed a loophole that allowed advanced AI chips from Nvidia and AMD to be exported to Chinese companies operating outside China, such as in Malaysia. This move strengthens US efforts to restrict China's access to cr...
Meta, the parent company of Facebook and Instagram, has laid off more than 2,400 employees across its Menlo Park and Sunnyvale offices as part of a workforce reduction announced in April. The layoffs primarily affected software engineers working on A...
A white-hat researcher discovered an integer-overflow bug in the 2016 HongCoin ICO smart contract that had locked 1,003 ETH (around $2 million) for nine years. The bug prevented automatic refunds when the ICO failed to meet its funding goal. Working ...
New Census Bureau data reveal a significant migration trend where Americans are leaving high-tax, Democratic-led blue states for lower-tax, Republican-led red states, especially in the South and Sun Belt. This shift is driven by the search for more a...
Michael Saylor, MicroStrategy's executive chairman, posted a cryptic message hinting at a new Bitcoin purchase after the company paused buying since May 18. MicroStrategy currently holds 843,738 BTC valued at about $62.24 billion but faces growing fi...
