SHANGHAI, Might 29, 2025 /CNW/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Firm”), a quickly increasing chief in Bitcoin mining, has finalized the divestment of all its enterprise within the PRC (the “PRC Enterprise”), a strategic transaction valued at roughly US$351.94 million in money with Ursalpha Digital Restricted. The sale, which closed on Might 27, 2025, decisively repositions Cango to pay attention its full monetary and operational capabilities on accelerating its management within the international Bitcoin mining trade.
This pivotal transfer unlocks vital assets and facilitates Cango’s speedy growth of its Bitcoin mining throughout key strategic areas, together with North America, the Center East, South America, and East Africa, leveraging rising alternatives within the digital finance sector.
This transaction additionally represents a transformative step for Cango, cementing its strategic shift to a centered chief in international Bitcoin mining. The Firm is now streamlined and higher capitalized, positioning it to aggressively pursue its progress targets and improve shareholder worth.
As a part of this strategic realignment, the Firm has additional restructured its Board of Administrators with the appointment of two new members, efficient Might 27, 2025, bringing deep experience in Fintech, AI, Internet 3.0, and international capital markets to steer Cango’s Bitcoin-focused future. Trying forward, this enhanced board composition reinforces Cango’s dedication to innovation and strengthens its place for management within the quickly evolving digital finance panorama.
The preliminary agreements for the sale of PRC Enterprise have been introduced on April 3, 2025, with shareholder approval obtained on Might 16, 2025. Following the divestment, the Firm will apply to the China Securities Regulatory Fee (“CSRC”) to terminate its “China Idea Inventory” standing.
About Cango Inc.
Cango Inc. (NYSE: CANG) is primarily engaged within the Bitcoin mining enterprise, with operations strategically deployed throughout North America, the Center East, South America, and East Africa. The Firm entered the crypto asset area in November 2024, pushed by developments in blockchain expertise, the rising adoption of digital property, and its dedication to diversifying its enterprise portfolio. In parallel, Cango continues to function an internet worldwide used automobile export enterprise by AutoCango.com, making it simpler for international prospects to entry high-quality car stock from China. For extra info, please go to: www.cangoonline.com.
Media Contact
Juliet Ye
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
E mail: ir@cangoonline.com
View unique content material to obtain multimedia:https://www.prnewswire.com/news-releases/cango-inc-completes-prc-business-sale-strengthens-board-to-drive-global-bitcoin-focus-302468091.html
SOURCE Cango Inc.
Featured Picture: depositphotos @ grejak
