Cango inc. completes cash-settled acquisitions of crypto mining assets

Shanghai , nov. 15, 2024 /prnewswire/ -- cango inc. (nyse: cang) ("cango" or the "company"), a leading automotive transaction service platform in china, today announced that it has completed the previously announced acquisition of on-rack crypto mining machines with an aggregate hashrate of 32 exahash per second ("eh") for a total purchase price of us$256 million in cash (the "cash-settled transaction") from bitmain technologies georgia limited and bitmain development limited (together, "bitmain"), a leading manufacturer of digital currency mining servers. the company announced the cash-settled transaction on november 6, 2024, together with its proposed acquisition of on-rack crypto mining machines with an aggregate hashrate of 18 eh from golden techgen limited and certain other sellers for a total purchase price of approximately us$144 million, which will be paid through issuance of shares to the sellers by the company (the "share-settled transactions" and together with the cash-settled transaction, the "proposed transactions").
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