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Blockchain Press Releases

Bitget Feb 2024 Report: 25M Users & BGB Hits US$1 as Crypto Market Soars

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VICTORIA, Seychelles, March 7, 2024 /PRNewswire/ — Bitget, the world’s leading cryptocurrency exchange and Web3 company, today unveiled its Monthly Report for February 2024. Demonstrating remarkable growth and resilience, Bitget announced that its user base exceeded 25 million and its platform token BGB breached the US$1 mark in February 2024, amidst a thriving cryptocurrency market, particularly noted for the significant momentum in the crypto market.

In its continuous effort to diversify and enrich trading options, Bitget added 39 new tokens to its platform in February, drawing significant trading interest. This expansion led to exceptional performance among the top five tokens, each seeing price surges of over 1000%. Meanwhile, its platform token BGB increased by 64% and breached the US$1 mark in February, reaching an all-time high of US$1.15.

February also witnessed substantial growth in the AI sector, particularly fueled by the launch of OpenAI’s Sora model, which has significantly advanced AI creativity and captivated the market’s interest. This enthusiasm contributed to a remarkable 400% increase in trading volume in Bitget’s AI zone, reflecting the market’s keen interest in AI-driven advancements.

The appointment of Alvin Kan as Chief Operating Officer (COO) of Bitget Wallet is a strategic move to enhance Bitget’s global growth and innovation. With a rich history of leadership roles at high-profile organizations, Kan is ideally positioned to guide Bitget through its next growth phase.

A Bitget study on investor sentiment revealed strong confidence in the future of the cryptocurrency market, especially in light of the anticipated Bitcoin halving. A significant majority of investors are poised to increase their investments, expecting Bitcoin to reach new all-time highs.

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Gracy Chen, Managing Director of Bitget, states: “We are thrilled to witness Bitget’s unprecedented growth of surpassing 25 million users, a clear testament to the trust and confidence the global crypto community places in us. This milestone, coupled with our strategic expansions and innovations underscores our commitment to providing the most dynamic and secure trading environment for our users. As we celebrate this achievement, we remain focused on paving new paths in the crypto and Web3 spaces, driven by our unwavering dedication to market leadership and service excellence. The future looks incredibly bright, and we’re just getting started.”

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 25 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL. 

For more information, visit: Website  |  Twitter  |  Telegram  |  LinkedIn  | Discord | Bitget Wallet

View original content:https://www.prnewswire.co.uk/news-releases/bitget-feb-2024-report-25m-users–bgb-hits-us1-as-crypto-market-soars-302082773.html

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Blockchain Press Releases

Compass Mining Energizes New 30 MW Self-Owned Bitcoin Mining Facility in Iowa

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Phase I of state-of-the-art facility now online; construction of remaining capacity to start in Q4

WILMINGTON, Del., April 29, 2025 /PRNewswire/ — Compass Mining (the “Company”), a leading provider of Bitcoin mining hardware, hosting, and operational solutions, today announced the successful energization of Phase I of its new self-owned, state-of-the-art Bitcoin mining facility in Iowa. The first phase, with a 8 megawatts (MW) power capacity, is now fully operational, with construction of the remaining capacity expected to start in Q4.

Located on a 5-acre greenfield site, the new Iowa facility marks a significant step in the Company’s growth strategy, increasing its self-owned infrastructure portfolio. Completely owning and operating a site allows the Company to strengthen control over its operations and offer enhanced flexibility to its customers, who now have the option to select “Iowa 4″ as the deployment location for new machines purchased through Compass Mining’s platform.

“Expanding our self-owned infrastructure is a crucial step in strengthening Compass Mining’s position as a leader in Bitcoin mining hosting,” said Paul Gosker, CEO of Compass Mining. “Owning and operating our own sites gives customers greater operational control while still allowing them to choose from our network of reliable third-party facilities to best meet their individual needs and preferences.”

The Iowa facility builds on Compass Mining’s broader U.S. expansion, following the recent launch of its hydro-cooled Bitcoin mining facility in North Dakota. In 2024 alone, Compass Mining energized nearly 50 MW of new power capacity across sites in Indiana, Iowa, Ohio, Kentucky, Nebraska, and Texas, reinforcing its role as a premier provider of Bitcoin mining hosting solutions.

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About Compass Mining

Compass Mining is a customer-first company that provides a platform for individuals and businesses to purchase Bitcoin mining hardware, host machines, build and manage mining facilities, and access a range of ancillary services. With a commitment to exceptional customer support and transparency, Compass Mining sets the benchmark for bitcoin mining hosting. Its mission is to make Bitcoin mining accessible to everyone. To learn more about Compass Mining or to start mining today, visit compassmining.io.

Media Contact

BlocksBridge Consulting
[email protected] 

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Blockchain Press Releases

HTX DeepThink: Tariff Shift and Capital Inflows — A Brief Window for Crypto Opportunity

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SINGAPORE, April 29, 2025 /PRNewswire/ — HTX DeepThink is dedicated to exploring global macro trends, key economic indicators, and major developments across the crypto industry. In a world where volatility is the norm, HTX DeepThink aims to help readers “Find Order in Chaos.”

This week, Bitcoin surged to $95,000 as President Trump signaled a softer stance on tariffs, boosting market sentiment. However, uncertainty around trade negotiations persists. With critical economic data releases on the horizon, early May may offer a brief but significant liquidity window for crypto markets. In this edition of HTX DeepThink, Chloe (@ChloeTalk1) from HTX Research breaks down the shifting macro landscape and outlines key risks and opportunities for the digital asset space.

Trump’s Second 100 Days Agenda: Delivering on Promises, Catching the Next Wave

In his first 100 days, President Trump swiftly implemented several crypto‐friendly measures, including refining the stablecoin regulatory framework and cutting government spending via DOGE. Next, the White House will focus on finalizing trade agreements and advancing a Russia–Ukraine peace effort, while pushing through the “Big, Beautiful” package—featuring large tax cuts, robust border security measures, and regulatory rollbacks—and securing Senate passage of the FIT21 bill to provide a clear framework for U.S. digital‐asset regulation.

Last Week’s Market Recap: Decoupling and Key Drivers

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Last week, crypto markets initially decoupled from U.S. equities, driven by a weakening dollar, increased crypto allocations from traditional firms and financial institutions, rising on‐chain stablecoin issuance, and continued net inflows into Bitcoin ETFs—pushing Bitcoin up to $88,000. Later, softened rhetoric on tariffs from President Trump and Treasury Secretary Bissenet further boosted sentiment. However, while signals of trade progress were encouraging, actual agreements remain months away, and hard‐line tariff hawks within the administration continue to exert significant influence, posing major uncertainty for the outlook.

Key Data Ahead: Short‐ and Medium‐Term Inflection Points

This week’s macro calendar is pivotal.

  • April 30 @ 12:30 UTC: U.S. Q1 GDP (expected 0.2–0.4%, down from 2.4%) and Core PCE (month-over-month: ~0.1%)
  • May 2 @ 12:30 UTC: April nonfarm payrolls (estimated 130K vs. 228K prior) and unemployment rate (steady at 4.2%)

If the data shows weakening growth but easing inflation, it will bolster mid-year rate-cut expectations and likely lift risk assets such as Bitcoin and Ethereum in tandem. Conversely, if all metrics exceed forecasts, rate-cut hopes may be delayed or rate-hike fears revived, driving Treasury yields and the dollar higher and weighing on the crypto market in the short term.

In extreme cases:

  • Negative GDP + job losses → panic sell-off, rebound on easing bets
  • Hot inflation + stalled growth → stagflation risks emerge

Fed Holds Steady: The “Self‐Preservation” Behind a Technically Valid Rate Cut

As of now, the Fed’s reserve balances stand at about $3.3 trillion, overnight reverse repos at $94 billion, and the Treasury General Account remains high—conditions that technically allow for a rate cut. Yet in FY 2024, the Fed paid $226.8 billion in interest on reserves and RRP, while earning only $158.8 billion on Treasuries and MBS, resulting in a $77.5 billion net loss. A 0.3 ppt rate cut would reduce annual portfolio income by roughly $20 billion on $6.7 trillion of assets, widening losses and slashing remittances to the U.S. Treasury. To preserve its financial sustainability and political independence, the Fed has chosen to keep rates unchanged.

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Liquidity Window & Summer Risks: Timing the Optimal Entry

If this week’s data align with a slowdown, May may offer a brief liquidity window as funds rotate back into crypto. However, once the debt ceiling is raised—likely in June to July—the Treasury will refill its TGA to $50–60 billion via new bond issuance, draining equivalent liquidity from markets. Short‐term rates will rise, and risk assets will come under pressure; historically, Bitcoin and the broader market have fallen about 5%–10% in the weeks following such TGA rebuilds. Investors should therefore capitalize on the early‐May window while hedging for the summer liquidity drain.

Outlook: Stay Disciplined, Follow the Trend

Against a backdrop of intersecting policy catalysts and liquidity shifts, near‐term tactics should focus on key data releases and the May liquidity window, while longer‐term attention centers on FIT21 implementation and continued institutional adoption of BTC and other assets like Solana. The next major uptrend may well arise under these dual tailwinds—seize the opportunity.

*The above content  is not an investment advice and does not constitute any offer or solicitation to offer or recommendation of any investment product.

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About HTX Research

HTX Research is the dedicated research arm of HTX Group, responsible for conducting in-depth analyses, producing comprehensive reports, and delivering expert evaluations across a broad spectrum of topics, including cryptocurrency, blockchain technology, and emerging market trends.

View original content:https://www.prnewswire.co.uk/news-releases/htx-deepthink-tariff-shift-and-capital-inflows–a-brief-window-for-crypto-opportunity-302441115.html

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Blockchain Press Releases

Cango Inc. Gains Positive Outlook with Initiation of Coverage by Apollo Insights

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SHANGHAI, April 29, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a rapidly expanding leader in Bitcoin mining, announced the initiation of coverage by Apollo Insights, an independent equity research firm.

Apollo Insights initiated coverage on Cango on April 22, 2025, following the release of its equity research report and investment thesis titled “Cango Catapults Into Bitcoin Mining”.

The equity research report highlights include:

  • The Company has a market capitalization of $387.1 million
  • The 12-month low and high for the Company’s stock is $1.33 and $8.00, respectively.
  • Apollo Insights estimates that Cango’s fiscal 2025E revenue and adjusted EBITDA will reach RMB3,913.2 million and RMB665.6 million, respectively
  • In fiscal 2026E, revenue and adjusted EBITDA are projected to reach RMB4,644.6 million (an 18.7% year-over-year increase) and RMB1,185.2 million (a 78.1% year-over-year increase), respectively.
  • The firm attributes its favorable outlook for Cango to a supportive regulatory environment under the Trump administration and the potential for greater clarity in cryptocurrency regulations.

The initiation of coverage underscores Cango’s remarkable rise in the Bitcoin mining industry in a short time. The Company has developed its mining operation at a lower cost and reduced operational risks through strategic partnerships for acquiring Bitcoin mining equipment. This higher overall operating efficiency ensured the Company generated an average operating hash rate of 30.3 exahash/second (EH/s) in March 2025, placing Cango in joint second for the highest operating hashrate in the month.

The Company’s capital-light model has helped it accumulate holdings of approximately 2,475 Bitcoin as end-March 2025, valued at roughly US$211 million as of April 17, 2025. Cango has not sold any of its Bitcoin holdings yet. Overall, as of March 2025, Cango ranks as the fifth-largest Bitcoin mining player by deployed hashrate, achieving 32 EH/s in just four months. The report projects that its deployed hashrate will reach 42 EH/s by the end of FY25E.

Since entering the Bitcoin mining industry in November 2024, Cango has expanded its global footprint across strategic regions. Its mining operations now span the U.S. (38%), East Africa (37%), Oman (15%), Paraguay (9%), and Canada (1%).

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Click here to view Apollo Insights’ full equity research report and investment thesis on Cango.

About Cango Inc.

Cango Inc. (NYSE: CANG) primarily operates a leading Bitcoin mining business. Cango has deployed its mining operation across strategic locations including North America, Middle East, South America, and East Africa. Cango expanded into the crypto assets market in November 2024, driven by the development in blockchain technology, increasing prevalence of crypto assets and its endeavor to diversify its business. Meanwhile, Cango has continued to operate the automotive transaction service in China since 2010, aiming to make car purchases simple and enjoyable. For more information, please visit: www.cangoonline.com.

Media Contact

Juliet Ye
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: [email protected] 

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