Bitcoin Miner Cango Sells $305M in BTC to Pay Down Loan
Bitcoin miner Cango has sold 4,451 bitcoin for around $305 million to partially pay down a bitcoin-collateralized loan. The company aims to strengthen its balance sheet and reduce financial leverage by using the sale’s proceeds. Additionally, this move will enable Cango to expand into AI infrastructure, as stated in a press release. This transaction comes … Read more