Recently, it came to attention that the large Bitcoin mining company Cango is adjusting its strategy: they have cut their mining capacity by nearly a third. Specifically, their hash rate has dropped from 50 EH/s to 34.55 EH/s, directly and significantly.

It’s understood that they’re doing this mainly because the profit margins for mining have been squeezed lately, so they’re optimizing equipment efficiency and reducing some operating costs. Rather than stubbornly mining at full capacity, they’ve chosen to precisely control production capacity—ultimately improving unit efficiency.

This also reflects the current state of the mining industry: everyone is looking for ways to improve mining profitability, not to expand blindly. Interestingly, this kind of rational adjustment is becoming more and more common among miners.