Cango Inc. Will sell its Chinese operations to Ursalpha Digital Limited for 351.94 million USD to focus on global Bitcoin mining. The initial payment of 210.64 million USD is due at closing, and the remaining 141.3 million USD is contingent on fulfilling tax obligations.
Cango has a strong market cap of 415 million USD and a P/E ratio of 11.89. The company reported a 12% increase in Bitcoin production in March 2025, totaling 530.1 coins, and has launched a 30 million USD share buyback program to enhance shareholder value.
Following U.S. Tariffs announced by President Trump, BTC dropped to an intraday low of 82,352 USD. The cryptocurrency market experienced significant sell-offs, with combined losses of 3.43% across digital assets, impacting investor sentiment.
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