Odaily Planet Daily reports that the Bitcoin mining company Cango, listed on the US stock market, disclosed that after a comprehensive assessment of the current market conditions and approval by the company’s board of directors, it completed the sale of 4,451 Bitcoins on the open market last weekend. The transaction was settled in USDT, with a net profit of approximately $305 million. All USDT proceeds have been used to partially repay a Bitcoin-backed loan. This transaction aims to strengthen its balance sheet and reduce financial leverage, thereby increasing its strategic expansion into artificial intelligence computing infrastructure. (Prnewswire)
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