Cango sells its auto finance business to Ursalpha for $352 million
04-03 13:57
Odaily News Cango announced the sale of its domestic auto finance business to Ursalpha Digital Limited, which is associated with Bitmain's subsidiary Antalpha, for $352 million. The transaction is part of Cango's comprehensive transformation into a bitcoin mining business. It is reported that the transaction includes an advance payment of $210.6 million paid by Ursalpha, and additional installments depend on fulfilling tax obligations and reducing the credit risk exposure of the divested entity. In addition, Cango mined 530 BTC in March and holds 2,475 coins. (Theminermag)
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