Cango Unloads $305M in Bitcoin, Shifts Focus to Artificial Intelligence
Cango, a former automotive services company turned Bitcoin miner, has made a significant move by selling 4,451 BTC worth approximately $305 million on the open market over the weekend. The sale marks a pivot for the firm as it repays debt and redirects its infrastructure toward artificial intelligence computing.
The company had accumulated 7,528.3 BTC by the end of 2025 after diversifying into crypto mining the previous year, initially deploying 32 EH/s in hashrate before upgrading to 50 EH/s in 2025. The sale follows a smaller disposal of 550.03 BTC in January, marking a clear shift in how the company manages its digital asset holdings.
Cango's mining operations span 40 sites across North America, the Middle East, South America, and East Africa, making it the joint third-largest public Bitcoin miner in the world by installed hashrate. The firm plans to repurpose its globally distributed, grid-connected infrastructure to provide compute capacity for the AI industry.