Bitcoin miner Cango has introduced it offloaded BTC price $305 million over the weekend because it seems to fund a strategic pivot into AI compute.
Cango Has Offloaded 4,451 Bitcoin To Fund AI Pivot
As introduced in a press launch, Cango has accomplished a Bitcoin sale involving 4,451 tokens. The corporate’s offloading occurred on the open market over the weekend and was settled instantly within the stablecoin USDT.
In complete, the sale produced proceeds of about $305 million. “The complete quantity of the USDT proceeds has been utilized to partially repay a Bitcoin-collateralized mortgage,” famous the press launch.
Based in 2010, Cango was initially an automotive transaction service platform connecting automotive patrons, sellers, and monetary establishments. In 2024, the agency diversified into Bitcoin mining, initially deploying 32 EH/s in hashrate after which upgrading it to 50 EH/s in 2025. On the identical time, it additionally began accumulating the cryptocurrency.
After its shopping for over the course of 2025, Cango’s holdings grew to 7,528.3 BTC by the tip of the yr. In 2026, nonetheless, the corporate witnessed a change of technique. The agency bought 550.03 BTC throughout January and now, a good bigger sale of 4,451 BTC has are available February.
The Bitcoin distribution has arrived as Cango gears up for a shift into the AI compute enterprise. Because the assertion mentioned:
The Firm is executing a strategic pivot by using its globally accessed, grid-connected infrastructure to supply distributed compute capability for the AI business.
Cango plans to pivot into AI by a phased roadmap, with the primary section involving serving demand from small and medium enterprises. A subsequent section will see the agency develop a software program orchestration platform to unify its distributed compute sources. The agency has additionally introduced the appointment of Jack Jin, who beforehand labored at Zoom Communications, as its AI enterprise’ chief know-how officer (CTO).
Whereas Cango is diversifying into AI, it doesn’t appear to be forsaking Bitcoin mining, no less than not but. “Cango stays dedicated to its mining operations, with a continued give attention to enhancing mining economics and looking for an optimum steadiness between hashrate scale and operational effectivity,” famous the agency.
The agency’s mining operations are unfold throughout 40 websites spanning North America, the Center East, South America, and East Africa. When it comes to the put in hashrate, the corporate is at present the joint third-largest public BTC miner on this planet.
Cango isn’t the one Bitcoin mining firm that’s pivoting into AI. Bitfarms, one other massive public miner, introduced final yr that it plans to wind down its mining enterprise over the course of 2026 and 2027 because it adopts a GPU-as-a-service mannequin.
BTC Value
Bitcoin has made some restoration since final week’s low because the cryptocurrency’s value is now buying and selling round $68,900.
The development within the value of the coin over the past 5 days | Supply: BTCUSDT on TradingView
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