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Cango sells $305 million in bitcoin to pay down debt amid AI shift
Yahoo Finance· 2026-02-09 15:31
Bitcoin miner Cango (NYSE: CANG) has sold 4,451 bitcoin to repay debt, with the company generating approximately $305 million from the sale at an implied average price of $68,524 per coin. Cango utilized the full amount to repay a portion of a bitcoin-collateralized loan. The company said the move will free up cash flows for operational growth. The #1 podcast for emerging tech stocks, Bitcoin, and weekly news analysis. Subscribe to the Blockspace Podcast here, on Apple, Spotify, or anywhere you listen to ...