Cango Inc. has sold $305 million worth of Bitcoin as it shifts focus toward artificial intelligence infrastructure, while still keeping its mining business active.
The publicly traded company sold 4,451 BTC over the weekend. The main goal was to repay a Bitcoin-backed loan and reduce leverage on its balance sheet. By doing this, Cango lowers its exposure to loan risk tied to Bitcoin’s price swings.
The Dallas-based firm said the move is part of a broader restructuring plan. It wants to redirect capital toward building out distributed computing services for AI workloads. In simple terms, Cango is using its existing infrastructure to move deeper into AI computing, where demand is growing fast.
After the announcement, Cango’s shares fell in trading. The stock has already been under pressure for months, as mining profits tighten and investors question how well crypto miners can pivot into AI.
Even with the sale, Cango is not leaving Bitcoin mining behind. The company said it will continue mining while expanding its AI business. It operates more than 40 sites across four regions, many of which are connected to power grids that can also support high-performance computing for AI.
In January alone, Cango mined nearly 500 Bitcoin and sold around 550. By the end of the month, it still held more than 7,400 BTC.
The company also appointed a new chief technology officer with a background in enterprise software, signaling that it is serious about strengthening its AI push.
Cango hinted that it may continue selling some newly mined Bitcoin to fund short-term AI growth, while carefully managing liquidity and risk.
As mining margins shrink and energy costs rise, several competitors have rebranded themselves as AI or compute infrastructure providers. Cango appears to be following a similar path — reducing loan exposure, keeping its mining engine running, and using its Bitcoin holdings to help finance a long-term shift into AI infrastructure.
