TechFlow news, May 27 — According to an official announcement, Cango Inc. (NYSE: CANG) today announced the completion of the sale of its entire China operations to Ursalpha Digital Limited for approximately $352 million. With the transaction finalized, the company's board of directors and executive team have been restructured, with four directors resigning and Lin Yanjun and Lu Haitian appointed as independent directors; Lin Yanjun also serves as interim Chief Financial Officer. The company will apply to the China Securities Regulatory Commission to terminate its "China概念股" status and will focus primarily on Bitcoin mining operations in North America, the Middle East, South America, and East Africa.
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