HONG KONG, Aug. 11, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Firm”), as we speak introduced the acquisition of a completely operational 50 MW mining facility in Georgia, USA, for a complete money consideration of US$19.5 million – a pivotal step marking the Firm’s transition into a various technique that manages a strong portfolio of Bitcoin mining and power infrastructure.
This transaction represents Cango’s first step to steadily enhance its portfolio of owned and operated mining services. By selectively buying low-cost energy operations, Cango goals to reinforce operational effectivity, value self-discipline, and long-term monetary resilience—whereas establishing the inspiration for a extra superior power technique sooner or later.
The power has hosted Cango’s miners beneath a third-party internet hosting settlement. Following this acquisition, Cango will allocate 30 MW to its self-mining operations and 20 MW to internet hosting companies for third-party shoppers. Absolutely outfitted with important mining infrastructure, lodging, and assist services, the ability permits a seamless transition for Cango. With this acquisition, Cango will start growing in-house operational experience required for managing self-owned mining websites, strengthening the Firm’s technical and managerial basis. As this infrastructure is put in place, Cango can also be laying the strategic groundwork for a gradual pivot in direction of supplying power for high-performance computing (HPC) functions, additional increasing the long-term potential of its websites past Bitcoin mining whereas leveraging operational and technical experience developed in-house.
Mr. Peng Yu, CEO of Cango, mentioned, “This acquisition is a essential milestone and marks the start of our vertical integration as we transition in direction of a extra diversified and resilient portfolio of Bitcoin mining websites and power infrastructure. By integrating long-term energy provide agreements into our portfolio and growing new income streams, we’re optimizing energy prices, increasing operational capability, and reinforcing our monetary sustainability. This acquisition aligns with our long-term imaginative and prescient to turn into the main mining and power options supplier.”
Investor Relations Contact
Juliet YE, Head of Communications
Cango Inc.
Electronic mail: [email protected]