Cango's $19.5M Georgia Mining Facility Deal Signals Major Strategic Pivot

On August 11, 2025, Cango Inc. (NYSE: CANG) officially closed a $19.5 million acquisition of a fully operational 50-megawatt bitcoin mining facility located in Georgia, representing a transformative move in the company’s infrastructure strategy.

From Hosting to Ownership

The transaction marks a significant evolution for the NYSE-listed company. Previously, Cango had deployed mining equipment at this Georgia location under a third-party hosting arrangement. By acquiring the facility outright, the company now gains direct operational control and the ability to optimize asset management across its growing portfolio.

The facility will be split strategically: 30 MW will power Cango’s own bitcoin mining operations, while the remaining 20 MW capacity will continue serving third-party hosting clients—creating a hybrid revenue model.

Building In-House Expertise and Infrastructure

This acquisition goes beyond securing mining assets. Cango gains access to complete mining infrastructure, accommodation facilities, and comprehensive support systems that enable smooth operational integration. More importantly, developing in-house expertise for managing self-owned mining sites positions the company to scale efficiently and reduce dependency on external operators.

The facility also provides a foundation for Cango’s broader technology diversification strategy, extending beyond traditional bitcoin mining.

Expanding Beyond Bitcoin: Computing and Alternative Cryptocurrencies

The Georgia facility represents the first step in Cango’s gradual pivot toward supplying computational power for high-performance computing applications. This strategic flexibility opens doors to supporting emerging sectors, including eth mining and other GPU-intensive blockchain operations, unlocking long-term value potential beyond bitcoin alone.

Global Presence and Business Scope

Cango’s mining footprint spans North America, the Middle East, South America, and East Africa—a geographically diversified portfolio since entering the crypto mining sector in November 2024. Beyond mining, the company maintains its established online international used car export platform through autocango.com, maintaining revenue diversification.

This acquisition underscores Cango’s commitment to building sustainable, scalable infrastructure for the evolving digital asset economy.