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

Explore More

Related Acquisitions

Track M&A activity that matters to you

Get real-time deal alerts, build buyer lists with AI, and access our full acquisition database. Start your free trial today.