Cango inc. announces agreements to acquire crypto mining assets

Shanghai , nov. 6, 2024 /prnewswire/ -- cango inc. (nyse: cang) ("cango" or the "company"), a leading automotive transaction service platform in china, today announced that it has entered into agreements to purchase on-rack crypto mining machines with an aggregate hashrate of 50 exahash per second ("eh") for total considerations valued at approximately us$400 million from a group of sellers. the largest seller will be bitmain technologies georgia limited and bitmain development limited (together, "bitmain"), a leading manufacturer of digital currency mining servers, and the company has agreed to purchase from bitmain on-rack crypto mining machines with an aggregate hashrate of 32eh for a total purchase price of us$256 million in cash (the "cash-settled transaction").
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