Cango Sells Bitcoin Funds AI Transition

Cango completed a sale of 4,451 Bitcoin worth roughly $305 million on Monday to reduce debt and fund a transition to AI computing. The miner holds about 3,600 BTC (~$251 million) and will repurpose grid-connected mining facilities across more than 40 global sites with modular GPU units, appointed Jack Jin as AI CTO, and secured $10.5 million from Enduring Wealth Capital.