Cango (CANG) Sells 4,451 BTC to $305M, Shifts Capital to AI Compute Infrastructure

Cango (CANG) sold 4,451 BTC over the weekend, raising approximately $305 million in USDT, to reduce leverage and fund a strategic pivot toward AI infrastructure. The sale suggests an average price of about $68,524 per coin, well above the multi-year lows. The proceeds will pay down a bitcoin-collateralized loan, and Cango still holds 3,645 BTC valued at over $250 million. The company plans to deploy modular GPU units across its global network of over 40 sites to provide on-demand AI inference capacity for SMBs. This follows a broader industry shift as miners seek to capitalize on rising compute demand and expand into high-performance computing and AI workloads. Analysts note the opportunity is compelling but execution risks remain, contributing to downgrades at Bitfarms (BITF), Bitdeer (BTDR), and Hive Digital (HIVE).