Cango Offloads $305M in Bitcoin to Transition Towards AI Solutions

Cango has sold $305 million in Bitcoin to pivot towards providing AI inference solutions, utilizing modular GPU units worldwide.

Cango, a prominent player in the Bitcoin mining sector, has divested $305 million worth of Bitcoin during a recent downturn in the cryptocurrency market. This strategic decision aims to facilitate the company's shift towards developing AI technologies.

To support this transition, Cango plans to roll out modular GPU units at over 40 locations globally. These units are designed to deliver on-demand AI inference capabilities tailored specifically for small and medium-sized enterprises.