Cango (CANG) stock news: BTC miner sold more than half of its holdings

Bitcoin miner Cango sold 4,451 BTC over the weekend, raising approximately $305 million in USDT to reduce leverage and fund its strategic pivot towards artificial intelligence infrastructure. The sale, executed near multi-year low prices for Bitcoin, allowed the company to pay down a bitcoin-collateralized loan and strengthen its balance sheet. Cango plans to deploy modular GPU units across its 40+ global sites to offer on-demand AI inference capacity to small and mid-sized businesses. The company still retains 3,645 BTC, valued over $250 million. This move aligns Cango with a growing trend among Bitcoin miners who are redirecting capital and infrastructure toward AI data centers and high-performance computing to capitalize on rising compute demand.

(Source：CoinDesk)