Cango Invests $19.5 Million to Acquire Bitcoin Mining Facility in Georgia

According to HashChain, Cango Inc. has announced the acquisition of an operational 50-megawatt Bitcoin mining facility in Georgia, USA, for $19.5 million in cash. This acquisition marks Cango's entry into the self-owned mining sector, with plans to allocate 30 megawatts for self-operated Bitcoin mining and the remaining 20 megawatts to provide third-party hosting services. According to the company, they will expand their high-performance computing energy supply business based on this, enhancing operational efficiency and financial resilience. Currently, Cango has established a presence in the cryptocurrency asset business across North America, the Middle East, South America, and East Africa.