Bitcoin miner Cango sells $305M BTC to cut leverage and fund AI pivot

Bitcoin miner Cango has sold 4,451 Bitcoin on the open market, generating net proceeds of about $305 million it says were used to partially repay a Bitcoin‑collateralized loan and to strengthen its balance sheet.

The company said Monday that the transaction, approved by its board after a review of “current market conditions,” is intended to reduce financial leverage and provide additional capacity to fund its planned expansion into artificial intelligence (AI) and high‑performance computing (HPC) infrastructure.

Cango said that the “strategic pivot” meant utilizing its “globally accessed, grid-connected infrastructure” to provide distributed compute capacity for the AI industry, and that the initiative would be implemented through a phased roadmap.

The sale follows a disposal of 550.3 $BTC, with Cango selling more Bitcoin ($BTC) than it produced in January to support its near‑term growth initiatives after extreme cold and blizzards reduced uptime during the month.

According to the company’s Feb. 3 update, Cango’s Bitcoin reserves stood at 7,474.6 $BTC at the end of that month, down from 7,528.3 $BTC at the end of December 2025, before the additional 4,451 $BTC transaction further reduced its holdings.

Miners pivot power and capital into AI

Cango’s decision reflects a broader shift among Bitcoin miners as they look to diversify revenue streams by supplying power and data center capacity to AI and HPC customers.

Other large mining‑linked groups are signing long‑term contracts to supply GPU‑based cloud capacity for artificial intelligence and HPC using power and data center infrastructure that was originally built for Bitcoin mining.

Bitcoin miner Iren, for example, agreed to a five‑year, $9.7 billion deal with Microsoft in November 2025 to provide AI computing power from its Texas campus, committing hundreds of megawatts of capacity to contracted GPU hosting while continuing to operate one of the industry’s largest Bitcoin mining fleets.

These developments are taking place as post‑halving economics tighten across the sector in 2025. Cointelegraph Research data shows hashprice falling to multi‑year lows and network difficulty at record highs, as heavily compressed margins saw many miners operating close to breakeven at prevailing prices and cost levels.

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