Bitcoin miner Cango sold $305 million of BTC during market slump to fund AI shift

During the recent market slump, Bitcoin mining company Cango decided to sell a substantial amount of its cryptocurrency holdings, specifically totaling $305 million worth of Bitcoin (BTC). This strategic decision was made in order to generate the necessary capital to pivot the company’s focus towards investing in artificial intelligence (AI) initiatives. By liquidating these assets, Cango aims to not only mitigate the impact of the current downturn in the cryptocurrency market but also to position itself for future growth in the rapidly evolving tech sector centered around AI development. source: https://www.coindesk.com/markets/2026/02/09/bitcoin-miner-cango-sells-usd305-million-of-btc-during-market-slump-to-fund-ai-shift