Cango sold 4,451 bitcoins last week, with net proceeds of approximately $305 million

Odaily News: US-listed Bitcoin mining company Cango disclosed that, based on a comprehensive assessment of current market conditions and with approval from its board of directors, it completed the sale of 4,451 bitcoins in the open market last weekend. The transaction was settled in USDT, generating total net proceeds of approximately $305 million. All USDT proceeds have been used to partially repay a Bitcoin-collateralized loan. This transaction aims to strengthen its balance sheet, reduce financial leverage, and thereby support its strategic expansion into AI computing infrastructure. (Prnewswire)