Cango Inc. (NYSE: CANG), a US-listed company, announced that it sold 4,451 bitcoins on the open market over the weekend, settled in USDT, netting approximately $305 million. The proceeds have been used entirely to partially repay loans secured by bitcoins. The company stated that this move aims to strengthen its balance sheet, reduce financial leverage, and provide financial support for its transformation into AI computing infrastructure. Cango also announced the appointment of Jack Jin as CTO of its AI business line to advance the development of its distributed GPU inference and computing platform.
Cango announced that it sold 4,451 bitcoins on the open market last weekend.
This article is machine translated
Show original
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content
