Cango sells 4,451 bitcoins, with a net gain of approximately $305 million
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US-listed bitcoin mining company Cango disclosed that it sold 4,451 bitcoins on the open market last weekend, with the transaction settled in USDT, resulting in a net gain of approximately $305 million. The USDT obtained has been used to repay part of the bitcoin-collateralized loans. This transaction aims to strengthen the balance sheet and reduce financial leverage to support the strategic expansion of artificial intelligence computing infrastructure.
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