Cango exits China in $351.9m deal, pivots to Bitcoin mining
Shanghai-based Cango has signed definitive agreements to sell its China operations for $351.94 million in cash, marking a strategic shift towards cryptocurrency mining. Ursalpha Digital Limited, a British Virgin Islands-registered entity, will acquire Cango’s PRC business.
Read More...Cango sells legacy China business, goes all-in on Bitcoin mining: Report
Cango, a publicly traded Chinese conglomerate, has agreed to sell its legacy China operations to an entity associated with peer Bitmain in a bid to go all-in on Bitcoin (BTC) mining, according to a report by The Miner Mag. Cango agreed to sell its legacy Chinese auto financing business to Ursalpha Digital Limited in a […]
Read More...Luxor’s Aaron Forster on Bitcoin Mining’s Growing Sophistication
The group’s director of business development, a speaker at this year’s Consensus festival, says bitcoin miners are expanding into bitcoin pooling, hashrate hedging, AI and HPC.
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