In a masque most audacious, where coins glitter like stars and schemes aspires to the stage, our venerable miner Cango proclaims, with a bow and a flourish, that he hath cast off BTC to the tune of three hundred five million dollars, all in order to fund a pivot most dramatic toward AI compute.
Cango Offloads 4,451 BTC to Fund an AI Pivot
As the heralds did declare, the sale occurred in the open market, four thousand four hundred fifty-one tokens exchanged like polite courtiers, settled, not in coin, but in the stable jest called USDT, as if a sorcerer’s oath were paid in play-money.
In total, the venture yielded about $305 million. “The full portion of the USDT proceeds hath been employed to partially repay a loan backed by Bitcoin,” sighs the press release, as if this were but a mere trifle in a kingdom of numbers.
Founded in 2010, Cango began as an automotive convoy of buyers, dealers, and financiers-an enterprise most practical, as one might say, fit for the stage of commerce. In 2024, the firm diversifieth into Bitcoin mining, initially displaying 32 EH/s of hashing power, then crowning it to 50 EH/s in 2025, all the while accumulating the very coin it now disburses.
After its purchases through 2025, Cango’s hoard swelled to 7,528.3 BTC by the close of the year. Yet in 2026, a turn of fate: January saw 550.03 BTC depart, and February reveals a grander sale of 4,451 BTC, as if the plot thickens with a flourish.
The Bitcoin distribution doth arrive as Cango girds for a shift into the domain of AI compute. The statement proclaims:
The Company is executing a strategic pivot by utilizing its globally accessed, grid-connected infrastructure to provide distributed compute capacity for the AI industry.
Our gallant firm skims a phased roadmap: first, to serve the humbler needs of small and medium enterprises; second, to forge a software orchestration platform to unite its dispersed compute resources. And lo, Jack Jin, once of Zoom, is named chief technology officer of the AI venture, a gentleman equipped for such orchestration and spectacle.
While venturing into AI, Cango refuseth to abandon mining outright. “Cango remains committed to its mining operations, with a continued focus on enhancing mining economics and seeking an optimal balance between hashrate scale and operational efficiency,” proclaims the company, with a shrug that says both romance and arithmetic have a share in this tale.
The firm’s mining operations span forty sites across North America, the Middle East, South America, and East Africa. In installed hashrate, the company stands among the world’s third-largest public BTC miners, a distinction whispered about in boardrooms and coffeehouses alike.
Not alone in this fashion, Bitfarms-another large public miner-announced last year its plan to wind down mining through 2026 and 2027 in favor of a GPU-as-a-service model, a different kind of vice-poy for the modern stage.
BTC Price
Bitcoin hath recovered somewhat since last week’s fall, now trading about $68,900, as if the market were adjusting its epilogue with a sigh and a wink.
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2026-02-11 05:51