Cango Inc. Complete the sale of PRC business, the council is enhanced to pay the global Bitcoin concentration – Cryptomode
Shanghaiand May 29, 2025 / PRNEWSWIRE/ – Cango Inc. (NYSE: Cang) (“Cango” or “The Company”), a pioneering pioneering company expanding Bitcoin mining, ended the investment process of all its business in PRC (“Prc Business”), a strategic deal estimated by approximately 351.94 million dollars in cash with Ursalpha Digital Limited. The sale that was closed May 27, 2025Decrease the citizen decisively to focus its full financial and operational capabilities to accelerate its leadership in the global bitcoin mining industry.
This axial step opens large resources and facilitates the rapid expansion of Cango in Bitcoin Mining across the main strategic areas, including north americathe The Middle Eastand south americaAnd East AfricaBenefit from the emerging opportunities in the digital financing sector.
This deal also represents a Canggo transformative step, which enhances its strategic transformation into a leader in global bitcoin mining. The company is now simplified and the best, and its status is determined to follow the growth goals strongly and enhance the value of the shareholders.
As part of this strategic reorganization, the company restructured its board of directors by appointing two new members, in effect May 27, 2025Bring deep experience in Fintech, AI, Web 3.0 and Global Capital Markets to direct the Canggo future that focuses on Bitcoin. Looking at the future, this strengthening configuration of the Board of Directors enhances Cango’s commitment to innovation and enhances its position in the scene quickly advanced digital financing.
Initial agreements for selling PRC business were announced on April 3, 2025With the approval of the shareholders obtained May 16, 2025. After the process of getting rid of investments, the company will apply to the Chinese Securities Regulatory Committee (“” CSRC “) to end its” China concept of stocks “.
About Cango Inc.
Cango Inc. north americathe The Middle Eastand south americaAnd East Africa. The company entered the area of encryption assets in November 2024Patured by progress in Blockchain technology, the adoption of increasing digital assets, and its commitment to diversify its business portfolio. In parallel, Cango continues to operate the export of international cars used online through Autocango.comWhich makes it easy for international customers to reach high -quality vehicle stocks from China. For more information, please visit: www.cangonline.com.
Media communication
Juliet Yi
Cango Inc.
Tel: +86 21 3183 5088 Ext.5581
Email: Ir@canGonline.com
