Cango Completes $256 Million Acquisition of Crypto Mining Machines

MT Newswires Live

2024/11/15

Cango (CANG) said Friday it has completed a $256 million cash acquisition of on-rack crypto mining machines with a total hashrate of 32 exahash per second from Bitmain Technologies Georgia and Bitmain Development.

The deal was announced on Nov. 6 together with a proposed acquisition of other on-rack crypto mining machines from Golden TechGen and other sellers for $144 million, the company said.

Cango shares were down 1.4% in recent premarket activity.

Price: 2.8100, Change: -0.04, Percent Change: -1.40

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