Cango sells 4,451 BTC for $305M to repay loans

Cango (CANG), a Bitcoin mining company listed on the New York Stock Exchange (NYSE), announced it sold 4,451 BTC last weekend, generating proceeds of $305 million. The entire amount was used to repay a portion of its BTC-collateralized loans. Cango stated that the sale will help it actively pursue a transition into AI computing infrastructure.