Cango has merged its shares, a 10-for-1 reverse split; longtime miners’ operations are increasingly looking like traditional finance.

Wu Says He Learned That Bitcoin miner Cango has announced that it will conduct a share consolidation at a ratio of 10 shares merged into 1 share at 17:00 (US Eastern Time) on July 20. Its Class A common stock is expected to begin trading on the New York Stock Exchange at the post-consolidation price starting July 21; the ticker remains CANG. Any fractional shares resulting from the consolidation of less than 1 share will be rounded down and cancelled, and shareholders will not receive any corresponding compensation.