Bitcoin mining company Cango has sold 4,451 BTC on the open market for approximately $305 million. The proceeds were used to partially repay a Bitcoin-collateralized loan and strengthen its balance sheet. This strategic sale supports the company’s broader pivot toward expanding into artificial intelligence and high-performance computing infrastructure.
Bitcoin miner Cango sold 4,451 Bitcoin, generating net proceeds of about $305 million. The company stated the funds were used to partially repay a Bitcoin‑collateralized loan and strengthen its financial position.
Its board approved the transaction after reviewing current market conditions. The move is intended to reduce financial leverage and fund a planned expansion into artificial intelligence and high‑performance computing infrastructure.
Cango described this as a “strategic pivot” to utilize its existing infrastructure for distributed compute capacity. The initiative will be implemented through a phased roadmap.
This large sale follows a previous disposal of 550.3 BTC in January. The company sold more Bitcoin than it produced that month to support near‑term growth initiatives after extreme weather reduced operational uptime.
According to a Feb. 3 update, Cango’s Bitcoin reserves were 7,474.6 BTC at January’s end. The additional sale of 4,451 BTC has further reduced its total holdings.
Cango’s decision reflects a wider shift among Bitcoin miners diversifying revenue streams. Other mining groups are signing long‑term contracts to supply power and data center capacity to AI and HPC customers.
For example, Bitcoin miner Iren agreed to a five‑year, $9.7 billion deal with Microsoft in November 2025. The deal commits hundreds of megawatts of capacity to contracted GPU hosting for AI computing power.
These developments occur as post‑halving economics tighten across the sector. Data shows hashprice falling to multi‑year lows and network difficulty at record highs, with many miners operating close to breakeven.
