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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