PANews reported on August 11th that Cango Inc. ( NYSE: CANG ) has announced the acquisition of a 50 -megawatt operating Bitcoin mining facility in Georgia, USA, for $ 19.5 million in cash. This acquisition marks Cango's official launch of its own mining facility, with plans to use 30 megawatts for its own Bitcoin mining operations and 20 megawatts for third-party hosting services. The company stated that it will use this facility as a foundation to gradually expand its high-performance computing ( HPC ) power supply business, improving operational efficiency and financial resilience. Cango currently has a cryptocurrency business presence in North America, the Middle East, South America, and East Africa.