HONG KONG, June 27, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG), known as “Cango” or the “Company,” has officially finalized its previously revealed acquisition of on-rack crypto mining equipment. The total computational power of this equipment reaches 18 Exahash per second. This was achieved through the allocation of 146,670,925 Class A ordinary shares of the Company to the vendors. The share allocation was made proportionally, based on the aggregate hashrate of mining machines each vendor contributed in the “Share-Settled Transactions.”
The initial agreement, named the “Purchase Agreement,” outlining the Share-Settled Transactions was first announced on November 6, 2024. Subsequent revisions to this agreement were disclosed on March 26, 2025, April 3, 2025, June 4, 2025, and June 23, 2025. All necessary conditions for the completion of the Share-Settled Transactions were either fulfilled or officially waived according to the stipulations of the Purchase Agreement. This included the
Following the closure of the Share-Settled Transactions, Golden TechGen Limited (“GT”), identified as the principal seller within these transactions, now holds approximately
The mining machines acquired by Cango through these Share-Settled Transactions are presently engaged in active mining operations. These operations are hosted in data centers across multiple nations, with a predominant presence in the
About Cango Inc.
Cango Inc. (NYSE: CANG) primarily focuses on the Bitcoin mining industry. The Company strategically operates across
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Investor Relations Contact
Yihe Liu
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: ir@cangoonline.com
Helen Wu
Piacente Financial Communications
Tel: +86 10 6508 0677
Email: ir@cangoonline.com
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SOURCE Cango Inc.