Cango Inc. Completes Sale of PRC Business for $351.94 Million, Accelerates Global Bitcoin Mining Focus

Reuters

05-29

Cango Inc. Completes Sale of PRC Business for $351.94 Million, Accelerates Global Bitcoin Mining Focus

Cango Inc. $(CANG)$, a rapidly expanding leader in Bitcoin mining, has completed the sale of its PRC Business to Ursalpha Digital Limited for approximately US$351.94 million in cash. This strategic divestment, which concluded on May 27, 2025, allows Cango to fully dedicate its resources to enhancing its global leadership in the Bitcoin mining industry. The company plans to rapidly expand its Bitcoin mining operations across North America, the Middle East, South America, and East Africa. As part of this transformative shift, Cango has also strengthened its Board of Directors with the appointment of two new members, effective May 27, 2025, bringing expertise in Fintech, AI, Web 3.0, and global capital markets.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Cango Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: CN98606) on May 29, 2025, and is solely responsible for the information contained therein.

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Completes Sale of PRC Business for $351.94 Million, Accelerates Global Bitcoin Mining Focus","media":"Reuters","content":"<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      Cango Inc. Completes Sale of PRC Business for $351.94 Million, Accelerates Global Bitcoin Mining Focus\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        Cango Inc. <a href=\"https://laohu8.com/S/CANG\">$(CANG)$</a>, a rapidly expanding leader in Bitcoin mining, has completed the sale of its PRC Business to Ursalpha Digital Limited for approximately US$351.94 million in cash. This strategic divestment, which concluded on May 27, 2025, allows Cango to fully dedicate its resources to enhancing its global leadership in the Bitcoin mining industry. The company plans to rapidly expand its Bitcoin mining operations across North America, the Middle East, South America, and East Africa. As part of this transformative shift, Cango has also strengthened its Board of Directors with the appointment of two new members, effective May 27, 2025, bringing expertise in Fintech, AI, Web 3.0, and global capital markets.\n      </p>\n</div><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<em>Disclaimer: <span>This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Cango Inc. published the original content used to generate this news brief via PR Newswire (Ref. 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Completes Sale of PRC Business for $351.94 Million, Accelerates Global Bitcoin Mining Focus\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1032215980\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2025-05-29 18:00</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html xmlns=\"http://www.w3.org/1999/xhtml\" xmlns:newsg2=\"http://iptc.org/std/nar/2006-10-01/\" xmlns:xhtml=\"http://www.w3.org/1999/xhtml\"><head><title>\n      Cango Inc. Completes Sale of PRC Business for $351.94 Million, Accelerates Global Bitcoin Mining Focus\n    </title></head><body><div xmlns:xsd=\"http://www.w3.org/2001/XMLSchema\" xmlns:xsi=\"http://www.w3.org/2001/XMLSchema-instance\">\n<p>\n        Cango Inc. <a href=\"https://laohu8.com/S/CANG\">$(CANG)$</a>, a rapidly expanding leader in Bitcoin mining, has completed the sale of its PRC Business to Ursalpha Digital Limited for approximately US$351.94 million in cash. This strategic divestment, which concluded on May 27, 2025, allows Cango to fully dedicate its resources to enhancing its global leadership in the Bitcoin mining industry. The company plans to rapidly expand its Bitcoin mining operations across North America, the Middle East, South America, and East Africa. 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ID: CN98606) on May 29, 2025, and is solely responsible for the information contained therein.</span></em>\n</div></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20250529:nNDL61mHWz:1","article_id":"2539256252","we_media_id":"1032215980","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2539256252","pubTimestamp":1748512841,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Reuters","introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"summary":"Cango Inc. , a rapidly expanding leader in Bitcoin mining, has completed the sale of its PRC Business to Ursalpha Digital Limited for approximately US$351.94 million in cash. 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