Home Fear & Greed Pools Wallets Dictionary Advertise Facebook Twitter Telegram Reddit Youtube
Market Cap:
24h Vol:
Cryptocurrencies: 13286
Markets: 103521
CoinInsight360.com logo CoinInsight360.com logo
ENG
EST
RUS
TUR
DEU
CHI
KOR
ITA
USD
USD
AED
AFN
ALL
AMD
ANG
AOA
ARS
AUD
AWG
AZN
BAM
BBD
BDT
BGN
BHD
BIF
BMD
BND
BOB
BRL
BTN
BWP
BYN
BZD
CAD
CDF
CHF
CLF
CLP
CNH
CNY
COP
CRC
CUC
CUP
CVE
CZK
DJF
DKK
DOP
DZD
EGP
ERN
ETB
EUR
FJD
FKP
GBP
GEL
GHS
GIP
GMD
GNF
GTQ
GYD
HKD
HNL
HRK
HTG
HUF
IDR
ILS
IMP
INR
ISK
JMD
JOD
JPY
KES
KGS
KHR
KMF
KPW
KRW
KWD
KYD
KZT
LAK
LBP
LKR
LRD
LSL
LYD
MAD
MDL
MGA
MKD
MMK
MNT
MOP
MRU
MUR
MVR
MWK
MXN
MYR
MZN
NAD
NGN
NIO
NOK
NPR
NZD
OMR
PAB
PEN
PGK
PHP
PKR
PLN
PYG
QAR
RON
RSD
RUB
RWF
SAR
SBD
SCR
SDG
SEK
SGD
SHP
SLL
SRD
SSP
STD
STN
SVC
SYP
SZL
THB
TJS
TMT
TND
TOP
TRY
TTD
TWD
TZS
UAH
UGX
UYU
UZS
VES
VND
VUV
WST
ZAR
ZMW
ZWL
America's Social Casino

Market Cap
24h Vol
13286
Cryptocurrencies
63.58%
Bitcoin Share
Bitcoin World 2025-05-29 11:40:00

Cango Inc. Completes PRC Business Sale, Strengthens Board to Drive Global Bitcoin Focus

Cango Inc. Completes PRC Business Sale, Strengthens Board to Drive Global Bitcoin Focus

BitcoinWorld Cango Inc. Completes PRC Business Sale, Strengthens Board to Drive Global Bitcoin Focus SHANGHAI , May 29, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a rapidly expanding leader in Bitcoin mining, has finalized the divestment of all its business in the PRC (the “PRC Business”), a strategic transaction valued at approximately US$351.94 million in cash with Ursalpha Digital Limited. The sale, which closed on May 27, 2025 , decisively repositions Cango to concentrate its full financial and operational capabilities on accelerating its leadership in the global Bitcoin mining industry. This pivotal move unlocks significant resources and facilitates Cango’s rapid expansion of its Bitcoin mining across key strategic regions, including North America , the Middle East , South America , and East Africa , leveraging emerging opportunities in the digital finance sector. This transaction also represents a transformative step for Cango, cementing its strategic shift to a focused leader in global Bitcoin mining. The Company is now streamlined and better capitalized, positioning it to aggressively pursue its growth objectives and enhance shareholder value. As part of this strategic realignment, the Company has further restructured its Board of Directors with the appointment of two new members, effective May 27, 2025 , bringing deep expertise in Fintech, AI, Web 3.0, and global capital markets to steer Cango’s Bitcoin-focused future. Looking ahead, this enhanced board composition reinforces Cango’s commitment to innovation and strengthens its position for leadership in the rapidly evolving digital finance landscape. The initial agreements for the sale of PRC Business were announced on April 3, 2025 , with shareholder approval obtained on May 16, 2025 . Following the divestment, the Company will apply to the China Securities Regulatory Commission (“CSRC”) to terminate its “China Concept Stock” status. About Cango Inc. Cango Inc. (NYSE: CANG) is primarily engaged in the Bitcoin mining business, with operations strategically deployed across North America , the Middle East , South America , and East Africa . The Company entered the crypto asset space in November 2024 , driven by advancements in blockchain technology, the growing adoption of digital assets, and its commitment to diversifying its business portfolio. In parallel, Cango continues to operate an online international used car export business through AutoCango.com , making it easier for global customers to access high-quality vehicle inventory from China . For more information, please visit: www.cangoonline.com . Media Contact Juliet Ye Cango Inc. Tel: +86 21 3183 5088 ext.5581 Email: [email protected] This post Cango Inc. Completes PRC Business Sale, Strengthens Board to Drive Global Bitcoin Focus first appeared on BitcoinWorld and is written by chainwire

Most Read News

Moralis Money
Market Cap
24h Vol
63.58%
Bitcoin Share
339
Today News
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.