Cango Inc. Divests PRC Business to Ursalpha Digital and Secures New Investors and 18 EH/s Mining Capacity via Share-Settled Transactions
June 10, 2025
Cango Inc. is reshaping its business with a divestiture of its PRC operations to Ursalpha Digital Limited for about US$351.94 million and strategic governance changes tied to new shareholders. Separately, Cango entered a definitive agreement for its co-founders and affiliates to sell 10 million Class B ordinary shares to Enduring Wealth Capital Limited for US$70 million, and amended an agreement to acquire an additional 18 EH/s of crypto mining capacity through issuance of Class A shares to sellers led by Golden TechGen Limited.
- Buyers
- Enduring Wealth Capital Limited, Golden TechGen Limited
- Targets
- Cango Inc., Ursalpha Digital Limited
- Sellers
- Cango Inc. co-founders and their affiliates (for the EWCL share sale), Golden TechGen Limited (as lead seller group in the share-settled mining capacity acquisition), Cango Inc. (for PRC Business divestiture, sold to Ursalpha Digital Limited)
- Industry
- Cybersecurity
- Location
- China
- Transaction Type
- Divestiture
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