Cango Inc. Acquires 50 MW Bitcoin Mining Facility in Georgia, Laying Groundwork for Future Energy Strategy

The facility has hosted Cango's miners under a third-party hosting agreement. Following this acquisition, Cango will allocate 30 MW to its self-mining operations and 20 MW to hosting services for third-party clients. Fully equipped with essential mining infrastructure, accommodation, and support facilities, the facility enables a seamless transition for Cango. With this acquisition, Cango will begin developing in-house operational expertise required for managing self-owned mining sites, strengthening the Company's technical and managerial foundation.  As this infrastructure is put in place, Cango is also laying the strategic groundwork for a gradual pivot towards supplying energy for high-performance computing (HPC) applications, further expanding the long-term potential of its sites beyond Bitcoin mining while leveraging operational and technical expertise developed in-house.

The facility has hosted Cango's miners under a third-party hosting agreement. Following this acquisition, Cango will allocate 30 MW to its self-mining operations and 20 MW to hosting services for third-party clients. Fully equipped with essential mining infrastructure, accommodation, and support facilities, the facility enables a seamless transition for Cango. With this acquisition, Cango will begin developing in-house operational expertise required for managing self-owned mining sites, strengthening the Company's technical and managerial foundation.  As this infrastructure is put in place, Cango is also laying the strategic groundwork for a gradual pivot towards supplying energy for high-performance computing (HPC) applications, further expanding the long-term potential of its sites beyond Bitcoin mining while leveraging operational and technical expertise developed in-house.

Mr. Peng Yu, CEO of Cango, said, "This acquisition is a critical milestone and marks the beginning of our vertical integration as we transition towards a more diversified and resilient portfolio of Bitcoin mining sites and energy infrastructure. By integrating long-term power supply agreements into our portfolio and developing new revenue streams, we are optimizing power costs, expanding operational capacity, and reinforcing our financial sustainability. This acquisition aligns with our long-term vision to become the leading mining and energy solutions provider." 

Investor Relations Contact

Juliet YE, Head of Communications
Cango Inc.
Email: [email protected] 

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