Surprise, surprise! Cango Inc., the same company that helps you export used cars online (because who doesn’t love a good jalopy?), just dropped $19.5 million on a shiny new bitcoin mining facility in Georgia, USA. Yep, they’re going full crypto cowboy now. 🤠💸
Cango Dives Headfirst Into the Bitcoin Pool 🏊♂️
So here’s the tea: On August 11, 2025 (yes, we’re living in the future), Cango-listed on the New York Stock Exchange under the ticker CANG-announced this little shopping spree. It’s their first big move into owning actual mining sites instead of just renting space like your broke college roommate. The goal? To save money and look fancy doing it. Efficiency is the new black, apparently. 👠💡
Fun fact: Cango was already hanging out at this Georgia facility, but as a tenant, not the landlord. Now that they own the place, they’re keeping 30 MW of power for themselves to mine bitcoin faster than you can say “HODL.” 🚀 The other 20 MW? That’s for third-party clients because even crypto miners need side hustles. 💼🔗
Oh, and don’t worry-they didn’t just buy an empty warehouse. Nope, the site comes fully loaded with all the bells and whistles: mining rigs, accommodations, support facilities, and probably some leftover coffee mugs from the previous owners. ☕✨ This gives Cango the chance to flex their newfound expertise in running their very own mining operation. Who knew car salesmen could moonlight as blockchain wizards? 🧙♂️🚗
But wait, there’s more! (Isn’t there always?) According to Cango, this isn’t just about mining bitcoin anymore; it’s about *strategic pivots* and *high-performance computing applications.* Translation: They’re planning to branch out into energy supply for tech stuff that sounds super complicated but will definitely impress investors. 🌟🔋 Is this the start of Cango becoming the Amazon Web Services of crypto? Stay tuned. 🛠️💻
Let’s rewind for a sec: Cango only hopped onto the crypto train in November 2024, and now they’re mining BTC across North America, the Middle East, South America, and East Africa. That’s a lot of frequent flyer miles. ✈️🌍 Meanwhile, autocango.com is still chugging along, proving that yes, you really can sell old cars and mine bitcoin at the same time. Multitasking goals unlocked. 🔑💼
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2025-08-11 23:58