Cango Inc. Acquires 50 MW Bitcoin Mining Facility in | Crypto Work Pro
HONG KONG, Aug. 11, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), right this moment introduced the acquisition of a absolutely operational 50 MW mining facility in Georgia, USA, for a whole money consideration of US$19.5 million – a pivotal step marking the Company’s transition into a various strategy that manages a strong portfolio of Bitcoin mining and vitality infrastructure.
This transaction represents Cango’s first step to steadily increase its portfolio of owned and operated mining amenities. By selectively buying low-cost energy operations, Cango goals to boost operational effectivity, value self-discipline, and long-term financial resilience—whereas establishing the inspiration for a more superior vitality strategy in the long run.
The facility 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 purchasers. Fully geared up with important mining infrastructure, lodging, and help amenities, the power allows a seamless transition for Cango. With this acquisition, Cango will start developing in-house operational experience required for managing self-owned mining websites, strengthening the Company’s technical and managerial basis. As this infrastructure is put in place, Cango can be laying the strategic groundwork for a gradual pivot in the direction of supplying vitality 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, stated, “This acquisition is a critical milestone and marks the beginning of our vertical integration as we transition towards a more diversified and resilient portfolio of Bitcoin mining sites and energy infrastructure. By integrating long-term power supply agreements into our portfolio and developing new revenue streams, we are optimizing power costs, expanding operational capacity, and reinforcing our financial sustainability. This acquisition aligns with our long-term vision to become the leading mining and energy solutions provider.”
Investor Relations Contact
(*50*) YE, Head of Communications
Cango Inc.
Email: ir@cangoonline.com
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