Cango Sells $305M in Bitcoin to Cut Debt and Pivot Toward AI Infrastructure

Cango Inc. announced the sale of 4,451 BTC for approximately $305 million in USDT, using the proceeds to repay a Bitcoin-collateralized loan and strengthen its balance sheet as it accelerates a strategic shift toward artificial intelligence infrastructure.

The transaction significantly reduces Cango’s debt exposure at a time when mining margins remain under pressure, while also freeing up capital to support the company’s transition beyond pure Bitcoin mining.

From Bitcoin Mining to AI Compute

Cango confirmed that the sale is part of a broader repositioning toward distributed AI and high-performance computing (HPC) services. Rather than exiting mining entirely, the company is seeking to leverage its existing global footprint to serve a growing demand for compute capacity.

The firm plans to repurpose infrastructure across more than 40 global sites to host modular GPU compute nodes, initially focusing on AI inference workloads. These services are aimed primarily at small and mid-sized enterprises that lack access to large-scale cloud compute but require flexible, distributed capacity.

Management framed the move as a natural extension of its existing expertise in power management, data centers, and hardware deployment—skills that translate directly from mining into AI compute.

Balance Sheet Reset During a Difficult Cycle

The $305 million loan repayment materially improves Cango’s financial position. By reducing leverage tied to volatile BTC collateral, the company lowers its exposure to forced liquidations during periods of sharp market drawdowns.

Following the sale, Cango is estimated to hold approximately 3,023 BTC in treasury, allowing it to remain meaningfully exposed to Bitcoin while pursuing diversification.

Despite the strategic pivot, Cango reiterated its commitment to maintaining its mining operations, which currently operate at a deployed hashrate of around 50 EH/s.

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Key Metrics Snapshot (Feb 9, 2026)

• BTC Sold: 4,451 BTC
• Sale Value: ~$305 million (USDT)
• Estimated BTC Treasury: ~3,023 BTC
• Deployed Hashrate: ~50 EH/s
• Use of Proceeds: Repayment of Bitcoin-backed loans

A Broader Industry Signal

Cango’s move highlights a growing trend among miners seeking revenue diversification as the industry matures. With AI compute demand accelerating and capital costs rising, firms with existing power and data center infrastructure are increasingly exploring hybrid models that blend mining with HPC services.

For Cango, the BTC sale appears less like a bearish call on Bitcoin and more like a tactical balance-sheet decision, one that buys flexibility as the company attempts to position itself at the intersection of digital assets and AI infrastructure.

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