Cango sells its automotive finance business to Ursalpha for $352 million

Odaily Planet Daily News: Cango announced the sale of its domestic automotive finance business to Ursalpha Digital Limited, a subsidiary of Bitmain Antalpha, for $352 million. This transaction is part of Cango's comprehensive transformation into the Bitcoin mining business. It is reported that this transaction includes a prepayment of $210.6 million paid by Ursalpha, with additional installment payments depending on fulfilling tax obligations and reducing the credit risk exposure of the divested entity. In addition, Cango mined 530 BTC in March and held 2475 BTC. （Theminermag）