Cang Valley Group Acquires 50MW Bitcoin Mining Facility in Georgia, Officially Entering the Bitcoin Mining and Energy Infrastructure Sector

By: theblockbeats.news|2025/08/11 20:22:02

BlockBeats News, August 11th, CanGu Group (NYSE: CANG) announced today that it has acquired a fully operational 50-megawatt mine in Georgia, USA, for a total cash consideration of $19.5 million. This acquisition marks a key step in the company's diversification strategy, aiming to manage a robust portfolio covering Bitcoin mining and energy infrastructure. This transaction is the first step in Cango's steady expansion of its proprietary and operational mine portfolio.

By selectively acquiring low-cost power operation assets, Cango aims to improve operational efficiency, strengthen cost management, and achieve long-term financial resilience, laying the foundation for a more advanced energy strategy in the future.

The mine previously provided mining machine hosting services to Cango through a third-party hosting agreement. After this acquisition, Cango will allocate 30 megawatts for self-operated mine operation and continue to provide hosting services to third-party customers for 20 megawatts. As the infrastructure gradually improves, Cango is also strategically paving the way for a shift towards providing energy for high-performance computing (HPC) applications, expanding the long-term potential of the mine.

DDC Enterprise Limited has today announced the additional purchase of 50 bitcoins, increasing its total bitcoin holdings to 2,118 bitcoins. This latest acquisition marks DDC's seventh consecutive week of executing its bitcoin accumulation plan. Based on its current holdings, DDC is ranked 34th in the global publicly traded companies bitcoin holdings list.

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