Cango Inc. (NYSE: CANG) focuses on cryptocurrency mining after divesting its China-based business, adding new shareholders, and scaling up Bitcoin mining capacity. Leadership and ownership changes position the company as a strong competitor in the global crypto industry.
Key Takeaways: Cango is aggressively building up a customer base and support services to export Chinese cars to the rest of the world, with 60,000 registered users for its AutoCango.com site
Key Takeaways: Cango’s used car exporting platform has listed more than 60,000 car models and signed up more than 20,000 registered users since its launch in March The company is shifting gears from direct car trading to an asset-light model of providing related services to reduce its inventory risk as China’s car market slows
