Cango (CANG) announced the acquisition of a fully operational 50 MW mining facility in Georgia for a total cash consideration of $19.5M. This transaction represents Cango’s first step to steadily increase its portfolio of owned and operated mining facilities. By selectively acquiring low-cost power operations, Cango aims to enhance operational efficiency, cost discipline, and long-term financial resilience-while establishing the foundation for a more advanced energy strategy in the future. The facility has hosted Cango’s miners under a third-party hosting agreement. Following this acquisition, Cango will allocate 30 MW to its self-mining operations and 20 MW to hosting services for third-party clients. Fully equipped with essential mining infrastructure, accommodation, and support facilities, the facility enables a seamless transition for Cango.
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