Cango Buys 50 MW Georgia Bitcoin Mine for $19.5M in Vertical Integration Push
Cango has acquired a fully operational 50-megawatt Bitcoin mining facility in Georgia, U.S., for $19.5 million in cash, marking the first step in its shift toward proprietary mining infrastructure.
The company said Monday that the site has been hosting Cango’s miners under a third-party arrangement. While the seller was not disclosed, Cango has primarily placed its recently acquired fleet at Bitmain-operated sites since pivoting to Bitcoin mining late last year.
Following the purchase, Cango plans to allocate 30 MW to self-mining and 20 MW to hosting services for other clients. The facility includes mining infrastructure, accommodation, and support amenities, allowing for a smooth transition to in-house operations.
Cango described the deal as the first in a planned expansion of its portfolio of owned sites. The Georgia acquisition also positions the company to build expertise in managing its own operations—experience it says will lay the foundation for future ventures in high-performance computing (HPC) energy supply, diversifying revenue beyond Bitcoin mining.
The vertical-integration push comes as Cango emerges among the four largest public Bitcoin miners by realized hashrate. Last month, it completed the acquisition of an additional 18 EH/s of on-rack capacity, bringing the total deployed hashrate to 50 EH/s.
