Cango(US:CANG) Prnewswire·2026-02-09 11:26Core Viewpoint - Cango Inc. has completed the sale of 4,451 Bitcoin for approximately US$305 million to strengthen its balance sheet and reduce financial leverage, enabling strategic expansion into AI compute infrastructure [1][2]. Financial Performance - The sale of Bitcoin was settled in USDT, with net proceeds utilized to partially repay a Bitcoin-collateralized loan [1]. - The divestment aims to enhance the company's financial position and support new growth initiatives [5]. Strategic Initiatives - Cango is pivoting towards providing distributed compute capacity for the AI industry, starting with the deployment of modular, containerized GPU compute nodes [3]. - The company plans to develop a software orchestration platform to unify its distributed compute resources in a subsequent phase [3]. Leadership and Expertise - Mr. Jack Jin has been appointed as the Chief Technology Officer (CTO) for Cango's AI business line, bringing extensive experience in AI/ML infrastructure and GPU systems [4]. - His previous work at Zoom Communications involved architecting high-performance GPU clusters for large language model inference, aligning with Cango's goals [4]. Infrastructure and Operations - Cango's AI high-performance computing development leverages its existing infrastructure capabilities in computing and energy management [5]. - The company operates over 40 mining sites across various regions, including North America and the Middle East [6]. Business Diversification - Since entering the digital asset space in November 2024, Cango has initiated pilot projects in integrated energy solutions and distributed AI computing, while also maintaining an online used car export business [7].