Bitcoin Miner Cango Sells 4,451 BTC In Strategic AI Pivot
Bitcoin miner Cango has introduced it offloaded BTC price $305 million over the weekend because it seems to be to fund a strategic pivot into AI compute.
Cango Has Offloaded 4,451 Bitcoin To Fund AI Pivot
As introduced in a press release, Cango has accomplished a Bitcoin sale involving 4,451 tokens. The firm’s offloading occurred on the open market over the weekend and was settled instantly within the stablecoin USDT.
In complete, the sale produced proceeds of about $305 million. “The full quantity of the USDT proceeds has been utilized to partially repay a Bitcoin-collateralized mortgage,” famous the press launch.
Founded in 2010, Cango was initially an automotive transaction service platform connecting automotive consumers, sellers, and monetary establishments. In 2024, the agency diversified into Bitcoin mining, initially deploying 32 EH/s in hashrate after which upgrading it to 50 EH/s in 2025. At the identical time, it additionally began accumulating the cryptocurrency.
After its shopping for over the course of 2025, Cango’s holdings grew to 7,528.3 BTC by the top of the 12 months. In 2026, nonetheless, the corporate witnessed a change of technique. The agency bought 550.03 BTC throughout January and now, a fair bigger sale of 4,451 BTC has are available in February.
The Bitcoin distribution has arrived as Cango gears up for a shift into the AI compute enterprise. As the assertion stated:
The Company is executing a strategic pivot by using its globally accessed, grid-connected infrastructure to offer distributed compute capability for the AI trade.
Cango plans to pivot into AI via a phased roadmap, with the primary section involving serving demand from small and medium enterprises. A subsequent section will see the agency develop a software program orchestration platform to unify its distributed compute sources. The agency has additionally introduced the appointment of Jack Jin, who beforehand labored at Zoom Communications, as its AI enterprise’ chief know-how officer (CTO).
While Cango is diversifying into AI, it doesn’t appear to be abandoning Bitcoin mining, at the very least not but. “Cango stays dedicated to its mining operations, with a continued deal with enhancing mining economics and searching for an optimum stability between hashrate scale and operational effectivity,” famous the agency.
The agency’s mining operations are unfold throughout 40 websites spanning North America, the Middle East, South America, and East Africa. In phrases of the put in hashrate, the corporate is presently the joint third-largest public BTC miner on the planet.
Cango isn’t the one Bitcoin mining firm that’s pivoting into AI. Bitfarms, one other massive public miner, announced final 12 months that it plans to wind down its mining enterprise over the course of 2026 and 2027 because it adopts a GPU-as-a-service mannequin.
BTC Price
Bitcoin has made some restoration since final week’s low because the cryptocurrency’s value is now buying and selling round $68,900.
