Bitcoin Mining Update: Cango, Canaan, BTC Prague & More Breaking News

Cango Inc. Reports Strong Bitcoin Mining Performance Despite April Production Dip

Cango Inc. (NYSE: CANG), a leading bitcoin mining company, released its April 2025 production update, revealing a total of 470.0 Bitcoins mined during the month. This figure represents an 11.3% decrease compared to the 530.1 Bitcoins mined in March 2025. The average daily Bitcoin production in April was 15.7, down from 17.1 in March.

Despite the month-over-month decline in production, Cango increased its total Bitcoin holdings to 2,944.8 as of April 30, 2025, up from 2,474.8 at the end of March. The company’s deployed hashrate remained steady at 32 EH/s, with an average operating hashrate of 29.9 EH/s, compared to 30.3 EH/s in March. CEO Jiayuan Lin attributed the production decline to a significant surge in the global hashrate, which led to an 8% increase in mining difficulty compared to March. Lin emphasized the company’s commitment to its Bitcoin holding strategy, noting that the current value of their Bitcoin holdings stands at $279 million.

Metric	March 2025	April 2025
Bitcoins Mined	530.1	470.0
Average Daily Production	17.1	15.7
Total Bitcoin Holdings	2,474.8	2,944.8
Deployed Hashrate (EH/s)	32	32
Average Operating Hashrate (EH/s)	30.3	29.9
Value of Holdings	-	$279 million

Cango’s mining operations span North America, the Middle East, South America, and East Africa. The company expanded into the crypto assets market in November 2024 and continues to operate its automotive transaction service in China.

April 2025 production: 470.0 BTC (down 11.3% from March)
Total holdings as of April 30: 2,944.8 BTC
Mining difficulty increased by 8% in April
Current Bitcoin holdings valued at $279 million

Source: FinanzNachrichten.de

Summary: Cango Inc. maintained strong mining efficiency and expanded its Bitcoin holdings in April 2025, despite a global hashrate surge and increased mining difficulty.

Canaan Achieves Record Revenues and Bullish Analyst Outlook

Canaan, a specialist in Bitcoin mining hardware and operations, has been rated "Buy" by Benchmark, with a price target of $3.00 per share. This represents a potential upside of approximately 380% compared to the current share price of about $0.62. Analysts highlight Canaan’s extremely low valuation, trading at just 0.2x the expected enterprise value to projected 2025 revenue.

The $3.00 price target is based on a 1x EV/revenue multiple applied to the 2025 revenue forecast of $780 million, plus the market value of Canaan’s own Bitcoin holdings. The company’s dual strategy—developing high-performance mining hardware and expanding its own mining activities, especially in North America—is seen as a competitive advantage in the Bitcoin mining sector.

Metric	Value
Current Share Price	$0.62
Price Target	$3.00
Potential Upside	~380%
2025 Revenue Forecast	$780 million
Management Revenue Target (2025)	$900 million - $1.1 billion
Expected Revenue Growth (2025)	164%
Beta (Volatility)	3.28

Canaan’s management reaffirmed its annual targets of $900 million to $1.1 billion in revenue, expecting a strong second half of the year. However, the high volatility (Beta of 3.28) remains a risk factor for investors.

Benchmark rates Canaan "Buy" with a $3.00 price target
2025 revenue forecast: $780 million
Management targets: $900 million to $1.1 billion in 2025
Expected revenue growth: 164%
High volatility (Beta 3.28) is a key risk

Source: Börse Express

Summary: Canaan is expected to see significant revenue growth in 2025, with analysts projecting a strong upside for the stock, driven by its dual business strategy and ambitious revenue targets.

BTC Prague 2025: Europe’s Largest Bitcoin Conference Returns with New Business Focus

BTC Prague, recognized as Europe’s largest and most influential Bitcoin conference, returns for its third edition in June 2025. The event has been described by previous attendees as “the best Bitcoin conference ever” and was recently listed by Forbes as one of the “Top 15 Bitcoin Conferences to Attend in 2025.”

Co-founder Martin Kuchař explained that BTC Prague is unique for its exclusive focus on Bitcoin, with no Altcoins or other crypto projects presented. The conference features three days of high-profile speakers, industry leaders, and the largest pure Bitcoin expo in Europe. Prague’s historical connection to Bitcoin—home to the first mining pool, Bitcoin ATMs, hardware wallets, and BIP39—makes it a fitting location.

A new feature this year is the “Business Day,” designed to help companies learn about and integrate Bitcoin into their financial strategies. This day offers executives, CFOs, and decision-makers direct access to industry leaders who have already adopted Bitcoin, such as MicroStrategy, Tesla, Block, Metaplanet, and GameStop. The Business Day provides a more intimate setting for high-level networking and expert discussions.

BTC Prague is strictly Bitcoin-only—no Altcoins or crypto projects
Conference includes a dedicated Business Day for corporate adoption
Prague’s deep historical ties to Bitcoin highlighted
Conference offers real-time translation for all presentations
Multiple ticket types available, including VIP with enhanced networking

“More companies than ever before realize that Bitcoin can no longer be ignored and are looking for ways to integrate or work with it.” — Martin Kuchař, Co-founder of BTC Prague

Source: BTC Echo

Summary: BTC Prague 2025 will focus on corporate Bitcoin adoption, offering a unique platform for networking and learning, with a strict Bitcoin-only policy and a new Business Day for executives.

Bitcoin Solaris Launches Revolutionary Mobile Mining App

Bitcoin Solaris (BTC-S) is set to revolutionize cryptocurrency mining with the upcoming launch of the Solaris Nova App, enabling users to mine real cryptocurrency directly from their smartphones. Unlike previous mobile mining attempts, the Solaris Nova App promises genuine rewards, scalability, and user-friendliness, making decentralized income generation accessible to everyone.

The Bitcoin Solaris ecosystem features a dual-consensus architecture: Proof-of-Work (PoW) secures the base layer, while Delegated Proof-of-Stake (DPoS) ensures fast and energy-efficient processing. This combination allows for up to 10,000 transactions per second, 2-second finality, and a 99.95% reduction in energy consumption compared to traditional Bitcoin mining. The app supports Android, iOS, macOS, Windows, Linux, and browser platforms, and includes an integrated wallet and beginner tutorials.

BTC-S is currently in its second presale phase, with a token price of $2.00. The launch price will be $3.00, offering early adopters a potential 20% return. The presale phase includes a 1,900% bonus, is limited to three months, and has a token cap of 14 million.

Solaris Nova App enables one-click mining on multiple platforms
Dual-consensus system: PoW and DPoS
Up to 10,000 transactions per second, 2-second finality
99.95% lower energy consumption than traditional mining
Presale token price: $2.00; launch price: $3.00; 1,900% bonus
14 million tokens available in presale
Features include liquid staking, DeFi integration, and referral rewards

The project’s fixed supply and deflationary design aim to ensure long-term value, while its user-friendly interface supports broad adoption.

Source: FinanceFeeds

Summary: Bitcoin Solaris introduces a mobile-first mining ecosystem with a highly efficient app, offering real cryptocurrency mining and DeFi features, currently in a limited presale phase.

New Hampshire to Hold Bitcoin Reserves Following New Legislation

The US state of New Hampshire has passed law HB 302, allowing the government to invest up to five percent of its state budget in Bitcoin and other cryptocurrencies. This equates to nearly half a billion US dollars, based on the state’s 2024 budget of $8.4 billion. Initially, only Bitcoin investments are practical, as it is the only cryptocurrency with a market capitalization exceeding $500 billion.

New Hampshire becomes the first US state to hold its own Bitcoin reserve, a move confirmed by journalist Eleanor Terrett and the Bitcoin Reserve Monitor. The law, supported by the Satoshi Action Fund, will take effect in 59 days. All cryptocurrencies must be held in a multisig wallet with a qualified custodian, and investments via Bitcoin ETFs are permitted. The actual amount to be invested is not yet known, and purchases are expected to be gradual.

Metric	Value
State Budget (2024)	$8.4 billion
Max Crypto Investment (5%)	$420 million
BTC Price (at report time)	Over $97,000
Law Effective In	59 days

The news has had a positive impact on the Bitcoin price, which rose by 3.10% in the last 24 hours to just over $97,000. The law is expected to have a long-term signaling effect, strengthening Bitcoin’s narrative as a strategic reserve asset and potentially inspiring other states to follow suit. Currently, 20 other US states are working on similar legislation, while five have explicitly rejected it.

New Hampshire can invest up to $420 million in Bitcoin and other cryptocurrencies
Law HB 302 takes effect in 59 days
All holdings must be secured in a multisig wallet with a qualified custodian
BTC price rose to over $97,000 following the news
20 other US states are considering similar reserves

Source: Bitcoin2Go

Summary: New Hampshire is the first US state to establish a Bitcoin reserve, with up to $420 million authorized for investment, setting a precedent for other states and boosting Bitcoin’s status as a reserve asset.

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