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Cango Inc. acquired a 50 MW Bitcoin mining facility in Georgia for $19.5 million in cash.
[Cango Inc. acquires a 50 MW Bitcoin mining facility in Georgia for $19.5 million in cash] Cango Inc. ( NYSE: CANG ) announces the acquisition of a fully operational 50 MW mining facility located in Georgia, USA for $19.5 million in cash. This is a key step in the company's transformation towards a diversified strategy aimed at managing a robust Bitcoin mining and energy infrastructure portfolio. This transaction is the first step for Cango to steadily expand its own and operated Mining facilities portfolio. Cango aims to enhance operational efficiency, cost control, and long-term financial resilience by selectively acquiring low-cost power businesses, while laying the groundwork for more advanced energy strategies in the future.