Ursalpha Digital Acquires Cango's PRC Business as Cango Repositions Toward Global Bitcoin Mining
June 10, 2025
Cango Inc. completed the sale of its PRC-based operations to Ursalpha Digital Limited for approximately US$351.94 million as part of a strategic transformation to focus on global Bitcoin mining. In related transactions, the company's co-founders agreed to sell 10 million Class B shares to Enduring Wealth Capital Limited for US$70 million, and Cango amended an agreement to acquire an additional 18 EH/s of mining capacity via share issuance to a seller group led by Golden TechGen Limited.
- Buyers
- Ursalpha Digital Limited, Enduring Wealth Capital Limited, Cango Inc.
- Targets
- PRC-based operations of Cango Inc.
- Sellers
- Cango Inc., Co-founders and their affiliates (sellers of Class B shares), Sellers led by Golden TechGen Limited
- Industry
- Automotive
- Location
- China
- Transaction Type
- Divestiture
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