Cango Inc. (NYSE: CANG) announced the acquisition of a fully operational 50-megawatt mining facility in Georgia, USA for $19.5 million in cash. This is a key step in the company's transformation into a diversified strategy, aimed at managing a strong portfolio of bitcoin mining and energy infrastructure.

This transaction marks the first step in Cango's steady expansion of its owned and operated mining facility portfolio. Cango aims to enhance operational efficiency, cost control, and long-term financial resilience by selectively acquiring low-cost electricity businesses, while laying the foundation for future, more advanced energy strategies.