TechFlow news, August 12 — According to Prnewswire, Cango Inc. (NYSE: CANG) announced the acquisition of a 50-megawatt operating mining facility in Georgia, USA, for $19.5 million in cash. The facility will allocate 30 megawatts for self-mining operations and 20 megawatts for third-party hosting services.
This acquisition marks a significant step for Cango in entering the Bitcoin mining and energy infrastructure sectors. Equipped with complete mining infrastructure and supporting facilities, the site will help the company establish in-house operational capabilities. Cango plans to use this facility as a foundation to gradually expand into high-performance computing (HPC) energy supply, enhancing the long-term application value of its mining facilities.
