{"id":6504,"date":"2026-02-10T08:50:29","date_gmt":"2026-02-10T08:50:29","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=6504"},"modified":"2026-02-10T08:50:29","modified_gmt":"2026-02-10T08:50:29","slug":"bitcoin-miner-cango-sells-305m-in-btc-to-fund-ai-compute-push","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=6504","title":{"rendered":"Bitcoin Miner Cango Sells $305M in BTC to Fund AI Compute Push"},"content":{"rendered":"

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  • Cango sold 4,451 BTC for $305 million to repay debt, leaving it with 7,474 BTC in reserve as the stock continues to trade below $1.00.<\/span><\/li>\n
  • The company appointed former Zoom executive Jack Jin as CTO to lead its pivot into AI \u201cinference\u201d computing using its existing mining infrastructure.<\/span><\/li>\n
  • Despite the shift, Cango remains active in mining, producing 500 BTC in January while planning to sell future rewards to fund its new AI business line.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n

    Bitcoin miner Cango said it sold 4,451 Bitcoin (BTC) over the weekend for roughly US$305 million (AU$466 million), using the full amount to repay part of a Bitcoin-backed loan.\u00a0<\/p>\n

    Cango said it plans to use its grid-connected mining infrastructure to provide distributed computing capacity for AI, while still running a Bitcoin mining operation. It added that it will manage capital between the two businesses under a \u201cdisciplined\u201d allocation approach.<\/p>\n

    The company also named Jack Jin, previously with Zoom, as CTO to help build the AI line. Cango stock was trading below $0.95 and is down about 62% over the past six months. Cango shares fell about 3% after the announcement.<\/p>\n

    \n
    \n

    Cango remains committed to its mining operations, with a continued focus on enhancing mining economics and seeking an optimal balance between hashrate scale and operational efficiency. The company will be guided by a disciplined framework for asset allocation in pursuit of long-term value creation.<\/em><\/p>\n<\/div>\n

    \n Cango <\/p>\n<\/div>\n

    Related: Bitcoin Slump Hits Saylor\u2019s Strategy at the Worst Possible Moment<\/strong><\/p>\n

    CEO Says Selling to Continue<\/h2>\n

    Cango said it operates more than 40 sites across four regions, mining nearly 500 BTC in January and selling 550 BTC during the month for about US$39 million (AU$59 million).\u00a0<\/p>\n

    It ended January holding 7,474.6 BTC, valued at about US$528 million (AU$807.8 million). CEO Paul Yu said the company expects to keep selling part of newly mined BTC to fund expansion of its AI \u201cinference\u201d platform and near-term growth needs.<\/p>\n

    Bitcoin was last near US$70,727 (AU$108,212), down about 0.2% over 24 hours, roughly 10% lower on the week, and about 44% below its October peak of US$126,080 (AU$192,902).<\/p>\n

    Related: House Democrats Probe Trump-Linked Crypto Firm Over $500M UAE Investment<\/strong><\/p>\n<\/p><\/div>\n

    AI,Bitcoin,Bitcoin Mining#Bitcoin #Miner #Cango #Sells #305M #BTC #Fund #Compute #Push1770713429<\/p>\n","protected":false},"excerpt":{"rendered":"

    Cango sold 4,451 BTC for $305 million to repay debt, leaving it with 7,474 BTC in reserve as the stock continues to trade below $1.00. The company appointed former Zoom executive Jack Jin as CTO to lead its pivot into AI \u201cinference\u201d computing using its existing mining infrastructure. Despite the shift, Cango remains active in<\/p>\n","protected":false},"author":1,"featured_media":6505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[2366,91,285,2365,135,489,2347,890,950],"class_list":{"0":"post-6504","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-305m","9":"tag-bitcoin","10":"tag-btc","11":"tag-cango","12":"tag-compute","13":"tag-fund","14":"tag-miner","15":"tag-push","16":"tag-sells"},"yoast_head":"\nBitcoin Miner Cango Sells $305M in BTC to Fund AI Compute Push - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=6504\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bitcoin Miner Cango Sells $305M in BTC to Fund AI Compute Push\" \/>\n<meta property=\"og:description\" content=\"Cango sold 4,451 BTC for $305 million to repay debt, leaving it with 7,474 BTC in reserve as the stock continues to trade below $1.00. 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