NYSE-listed firm dumps millions in Bitcoin to repay loan

Group 1 - Cango sold 4,451 BTC for approximately $305 million to reduce leverage related to a bitcoin-collateralized loan [1] - The transaction was settled in Tether's USDT stablecoin and was approved by the board of directors, reflecting a balance-sheet adjustment rather than a retreat from mining operations [2] - The company remains committed to its Bitcoin operations while prioritizing capital discipline amidst volatile mining economics [2][3] Group 2 - Cango is pivoting towards artificial intelligence (AI) by utilizing its infrastructure to provide distributed compute capacity for the AI industry [5] - The initial phase of the AI strategy will focus on providing inference capacity for small and midsized enterprises, with future plans to develop software for coordinating distributed GPU resources [5] - Jack Jin has been appointed as the chief technology officer for the AI business line, bringing experience from leading GPU infrastructure at Zoom Communications [6] Group 3 - Cango entered the bitcoin mining sector in late 2024 and ended 2025 with Bitcoin reserves exceeding 7,500 BTC [6] - The company plans to balance mining scale and efficiency while advancing its AI strategy [6]