Cango Inc. Expands Operations with Acquisition of 50 MW Bitcoin Mining Facility in Georgia

Cango Inc. (NYSE: CANG), a company recognized for its groundbreaking strategies in the mining and energy sectors, announced a significant milestone on August 11, 2025. The company has successfully acquired an active Bitcoin mining facility in Georgia, with a capacity of 50 megawatts (MW) for a total cash consideration of $19.5 million USD. This strategic acquisition marks the beginning of Cango's transition towards a more diversified energy strategy, enhancing its capability in managing a robust portfolio of Bitcoin mining and energy infrastructure.

In a rapidly evolving cryptocurrency market, this acquisition serves as a pivotal first step for Cango. The company's strategy aims to consistently grow its portfolio of owned and operated mining facilities. By selectively acquiring low-cost energy operations, Cango intends to improve operational efficiency, maintain cost discipline, and bolster long-term financial resilience. Furthermore, this acquisition lays the groundwork for a more advanced energy strategy in the future.

Prior to the acquisition, the facility had been hosting Cango's miners under a third-party lodging agreement. Following the acquisition, the company plans to allocate 30 MW of the facility's capacity to its own mining operations, while the remaining 20 MW will be utilized for providing hosting services to external clients. Fully equipped with essential mining infrastructure, lodging, and support facilities, this setup allows for a seamless transition for Cango into managing its own mining operations. This move also empowers the company to build the necessary internal operational expertise required for effectively managing its mining sites, thereby strengthening its technical and managerial foundation.

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

The facility's infrastructure enables Cango to effectively manage its operations while enhancing its energy supply capabilities further down the line. The company is not only focused on Bitcoin mining but is also looking to expand into high-performance computing (HPC) applications. This strategic pivot enhances the potential of Cango's sites, allowing the company to push beyond traditional mining activities, leveraging the in-house operational and technical expertise developed during this growth phase.

As Cango Inc. integrates its new acquisition, stakeholders can expect an evolution in how the company navigates the ever-changing landscape of cryptocurrency mining and energy provision. This marks just the beginning of a strategy that aims to fortify its standing within the industry and create a sustainable future for the organization.

In conclusion, Cango's proactive approach in acquiring a mining facility demonstrates its commitment to evolving in line with market trends and leveraging technology. The company aspires to optimize costs while expanding its operational footprint, ultimately setting a solid foundation for its future endeavors in both the mining and energy sectors.

For investor inquiries, Cango Inc. can be contacted through Juliet Ye, the Director of Communications, via email at [email protected]