Cango Inc. will execute a 10:1 share consolidation at 5:00 PM ET on July 20. Starting July 21, Class A ordinary shares will trade under ticker CANG on the NYSE. Fractional shares will be canceled without compensation.
American Bitcoin Sets Q2 Earnings for Aug 3
Trump family-backed miner American Bitcoin (ABTC) will release its Q2 2026 results before market open on August 3, followed by an earnings call at 8:30 AM ET the same day.
BitFuFu June Output Plunges 29.4%
BitFuFu mined just 125 BTC in June, a 29.4% month-over-month decline. Total holdings stood at 1,671 BTC. Managed hashrate fell to 15.3 EH/s while self-owned hashrate rose 9.4% to 3.5 EH/s. The firm added 1,200 S21 XP miners in June and plans another 2,000 in July.
TeraWulf Raises $3.5B for Anthropic AI Data Center
TeraWulf aims to secure approximately $3.5 billion in debt financing led by Morgan Stanley to build a Kentucky AI data center campus leased to Anthropic for 20 years. The contract is expected to generate about $19 billion in revenue. Financing includes leveraged loans and high-yield bonds, likely starting this year.
Post-Halving Landscape: Hashrate Peaks, AI Pivot Accelerates
The April 2024 halving cut the block reward to 3.125 BTC. In early 2026, network hashrate briefly exceeded 1 ZH/s (1000 EH/s). Winter storms caused a 12% drop, and roughly 20%-25% of miners shut down. Hashprice fell to $23-$28/PH/s, while BTC dropped from $126,000 to the $65,000-$75,000 range. Transaction fees now account for only 1% of miner revenue.
Core Scientific, Hut 8, IREN, Marathon, and Riot have all pivoted toward AI computing. TeraWulf’s Anthropic deal is the latest example of miners leveraging existing power and land assets for higher-margin AI workloads.