Cango ADR A

The $352 million sale could pave the way for a Singapore-linked entity to take control of Cango as it transitions from car trader to bitcoin miner» Mehr auf benzinga.com

SHANGHAI , April 7, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a rapidly expanding leader in Bitcoin mining, announced its production update for its crypto mining business for March 2025, highlighting significant growth in Bitcoin production. In March 2025, Cango produced a total of 530.1 Bitcoins, representing a 12% increase compared to 472.7 Bitcoins produced in February 2025.» Mehr auf prnewswire.com

SHANGHAI , April 3, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company") today announced that it has entered into definitive agreements to sell its existing business in the PRC (the "PRC Business") to Ursalpha Digital Limited, a company incorporated under the laws of British Virgin Islands (the "Purchaser"), for a total consideration of approximately US$351.94 million in cash (with initial payment of approximately US$210.64 million on the closing date and the remaining amount to be paid subject to the Company's fulfillment of certain tax filing and payment obligations and in quarterly installments based on reduction in the credit risk exposure, as of February 28, 2025, of the legal entities sold to the Purchaser due to outstanding balance of loans facilitated and financing leasing originated by these entities) (the "PRC Business Disposal"). The Company announced on March 14, 2025 that it received a preliminary non-binding letter of intent (the "Letter of Intent") from Enduring Wealth Capital Limited ("EWCL"), which proposed the acquisition of control of the Company by EWCL and the disposal of the Company's PRC Business to a buyer introduced by EWCL.» Mehr auf prnewswire.com