Bitcoin miner Cango completes $305 million BTC sale to support its AI pivot

Bitcoin miner Cango completed a sale of 4,451 Bitcoin worth roughly $305 million to reduce debt and fund its transition to AI computing, the company announced Monday.

The company currently holds more than 3,600 Bitcoin, worth about $251 million at current market prices, making it the 27th-largest publicly traded firm with Bitcoin on its balance sheet.

The transaction marks the largest disclosed Bitcoin sale by the firm since it entered the mining sector. In January, Cango produced 496 $BTC while selling 550 $BTC as part of a selective divestment approach amid weather-related operational challenges.

Cango now plans to repurpose its grid-connected mining facilities across more than 40 global sites for AI computing. The company intends to deploy modular GPU units at existing locations to provide inference capacity, initially targeting demand from smaller businesses.

To lead the effort, the firm appointed Jack Jin as chief technology officer for its AI division. Jin previously oversaw GPU cluster deployments for large language model workloads at Zoom Communications.

Cango secured $10.5 million from Enduring Wealth Capital in late December 2025, bringing the investor’s stake to nearly 4.7%.

The firm said it remains committed to mining but will prioritize balancing hashrate growth with operational efficiency while redirecting capital toward AI development.