Cango Acquires Georgia Bitcoin Mining Facility for $19.5 Million
Main Idea
Cango Inc. has acquired a 50-megawatt bitcoin mining facility in Georgia for $19.5 million, marking its first step in expanding its hosting and mining operations.
Key Points
1. Cango Inc. purchased a fully operational 50 MW bitcoin mining facility in Georgia, U.S., for $19.5 million.
2. The acquisition was announced on Aug. 11, 2025, and is Cango's first move to increase its hosting agreements.
3. 30 MW of the facility's capacity will be allocated to Cango's own bitcoin mining operations, while the remaining 20 MW will be used for third-party hosting services.
4. Cango had previously announced its intention to enter the bitcoin mining business in November 2024.
Description
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
Latest News
- Bitunix Analyst Predicts $127K BTC Top—If Volume Confirms Breakout2025-08-11 23:03:07
- Bitmine Secures Largest Global ETH Treasury With $4.96B Holdings2025-08-11 22:18:12
- ETF Recap: Bitcoin and Ether Funds Rebound With Big Weekly Gains2025-08-11 21:40:26
- Cango Acquires Georgia Bitcoin Mining Facility for $19.5 Million2025-08-11 21:01:27
- ETF Rally Gains Steam With $865 Million Inflow Surge for Bitcoin and Ether2025-08-11 20:55:55