Cango Acquires Georgia Bitcoin Mining Facility for $19.5 Million

Cango Inc. has acquired a fully operational 50-megawatt (MW) bitcoin mining facility in Georgia, U.S., for $19.5 million.

Cango Acquires 50 MW Bitcoin Mine

The New York Stock Exchange-listed company (NYSE: CANG) announced the acquisition on Aug. 11, 2025. This marks Cango’s first step in increasing its portfolio of owned and operated mining sites. The company stated on Monday that the move aims to enhance operational efficiency and cost discipline.

Cango had previously housed miners at the Georgia facility under a third-party hosting agreement. Following the purchase, the company will allocate 30 MW of the facility’s capacity to its own bitcoin mining operations. The remaining 20 MW will be used for hosting services for third-party clients.

The acquired site includes essential mining infrastructure, accommodation, and support facilities, enabling a seamless transition. Cango stated the acquisition allows it to develop in-house expertise for managing self-owned mining sites.

Cango indicated that the infrastructure also provides a foundation for a strategic pivot. The company plans a gradual shift toward supplying energy for high-performance computing applications in the future. This aims to expand the long-term potential of its sites beyond bitcoin mining.

Cango entered the crypto asset business in November 2024. Its BTC mining operations are deployed across North America, the Middle East, South America, and East Africa. The company also continues to operate an online international used car export business through autocango.com.