Cango Inc. Amends Crypto Mining Assets Acquisition Agreement

The latest announcement is out from Cango ( (CANG) ).

On June 4, 2025, Cango Inc. announced a third amendment to its Share-Settled Crypto Mining Assets Acquisitions agreement, initially signed on November 6, 2024. This amendment adjusts the number of shares to be issued to sellers and incorporates changes due to the company’s recent sale of its PRC business. The amendment outlines conditions under which additional shares may be issued based on the financial outcomes of the PRC Business Disposal. Golden TechGen Limited is expected to become a significant shareholder, owning approximately 18.79% of Cango’s total outstanding shares. The company is working towards closing the Share-Settled Transactions, although completion is subject to certain conditions. Furthermore, a change of control at Golden TechGen Limited has occurred, with new shareholders taking over, affecting the director nomination rights within Cango.

Spark’s Take on CANG Stock

According to Spark, TipRanks’ AI Analyst, CANG is a Neutral.

Cango exhibits strengths in profitability and a strong balance sheet, but faces challenges with revenue volatility and cash flow inconsistencies. Technical indicators show neutral to slightly bullish trends, while valuation remains unattractive due to losses. The earnings call highlights both growth opportunities in Bitcoin mining and operational challenges. The overall score reflects a balanced outlook with notable risks and opportunities.

To see Spark’s full report on CANG stock, click here.

More about Cango

Cango Inc. is primarily engaged in the Bitcoin mining business, with operations strategically deployed across North America, the Middle East, South America, and East Africa. The company entered the crypto asset space in November 2024, driven by advancements in blockchain technology and the growing adoption of digital assets. Additionally, Cango operates an online international used car export business through AutoCango.com, facilitating global access to high-quality vehicle inventory from China.

Average Trading Volume: 314,531

Technical Sentiment Signal: Buy

Current Market Cap: $511.6M

Find detailed analytics on CANG stock on TipRanks’ Stock Analysis page.