Deep Tide TechFlow News, August 11, according to PRNewswire, the publicly traded company Cango Inc. (NYSE: CANG) announced the acquisition of a fully operational 50 MW mining facility in Georgia, USA for $19.5 million in cash. The facility previously hosted Cango's mining machines and, after the acquisition, will allocate 30 MW for self-mining and 20 MW for third-party hosting services.

Cango Inc. CEO Peng Yu stated that this acquisition is an important milestone in the company's transition to a diversified portfolio of Bitcoin mining and energy infrastructure. By integrating long-term power supply agreements and developing new sources of revenue, the company will optimize power costs, expand operational capacity, and enhance financial sustainability.