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According to a report from Prnewswire on August 12, Deep Tide TechFlow announced that Cango Inc. (NYSE: CANG) has completed a cash acquisition of a 50 MW operational Mining Farm in Georgia, USA for $19.5 million. The Mining Farm will allocate 30 MW for its own Mining operations and 20 MW for third-party accomplice services.
This acquisition is an important step for Cango to enter the Bitcoin Mining and energy infrastructure sector. The Mining Farm is equipped with complete mining infrastructure and supporting facilities, which will help the company establish independent operational capabilities. Cango plans to use this as a foundation to gradually develop towards high-performance computing (HPC) energy supply and expand the long-term application value of the Mining Farm.