US EditionCango Inc. Acquires 50 MW Bitcoin Mining Facility in Georgia, Laying Groundwork for Future Energy Strategy
GEORGIA, USA, AUG 11 – Cango Inc. paid $19.5 million for the facility and plans to use 30 MW for self-mining and 20 MW for hosting third-party clients, enhancing operational efficiency and energy strategy.
- The acquisition by Cango Inc. on Aug. 11, 2025, of a fully operational mining facility in Georgia for US$19.5 million marks a key step in diversifying its Bitcoin mining and energy portfolio.
- Driven by its diversification goals, Cango entered the crypto asset space in November 2024, with the acquisition serving as its first step to expand mining facilities.
- Amid the operational rollout, Cango will allocate 30 MW to self-mining operations and 20 MW to hosting services for third-party clients, developing in-house operational expertise.
- With efficiency in focus, Cango aims to enhance operational efficiency, cost discipline, and financial resilience through low-cost power operations, establishing a foundation for future energy strategy.
- CEO Peng Yu said the acquisition aligns with Cango's long-term vision to become the leading mining and energy solutions provider and marks the beginning of vertical integration into diversified Bitcoin mining and energy infrastructure.
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PR Newswire
Cango Inc. Acquires 50 MW Bitcoin Mining Facility in Georgia, Laying Groundwork for Future Energy Strategy
/PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), today announced the acquisition of a fully operational 50 MW mining facility in Georgia,...
PRNewswire, PRNewswire, 11th August 2025, Chainwire
Cango Acquires Georgia Bitcoin Mining Facility for $19.5 Million - Coin Surges
Cango Inc. has acquired a fully operational 50-megawatt (MW) bitcoin mining facility in Georgia, U.S., for $19.5 million. Cango Acquires 50 MW Bitcoin Mine The New York Stock Exchange-listed company (NYSE: CANG) announced the acquisition on Aug. 11, 2025. This marks Cango’s first step in increasing its portfolio of owned and operated mining sites. The […] Read Entire Article The post Cango Acquires Georgia Bitcoin Mining Facility for $19.5 Milli…
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