Cango Inc. Acquires 50 MW Bitcoin Mining Facility in Georgia for $19.5 Million in Cash

According to Jinse Finance, Cango Inc. (NYSE: CANG) has announced the acquisition of a fully operational 50 MW mining facility in Georgia, USA, for $19.5 million in cash. This marks a key step in the company’s transformation toward a diversified strategy, aiming to manage a robust portfolio of Bitcoin mining and energy infrastructure. This transaction is the first step in Cango’s steady expansion of its owned and operated mining facility portfolio. Cango seeks to enhance operational efficiency, cost control, and long-term financial resilience through selective acquisitions of low-cost power assets, while also laying the groundwork for more advanced energy strategies in the future.