The facility will support Cango's internal mining (30MW) and third-party hosting (20MW) while expanding its HPC power supply business.
PANews reported on August 11th that Cango Inc. (NYSE: CANG) acquired a 50-megawatt operating Bitcoin mining facility in Georgia, USA, for $19.5 million in cash. The facility will be used for 30 megawatts of internal Bitcoin mining operations and 20 megawatts for third-party hosting services. Cango plans to leverage this acquisition as a foundation to expand its high-performance computing (HPC) power supply business and improve operational efficiency and financial resilience. The company already maintains a cryptocurrency business presence in North America, the Middle East, South America, and East Africa.