Cango Inc., a publicly traded company on the NYSE, has sold 4,451 Bitcoin in the open market, netting approximately $305 million in USDT. The proceeds have been used to partially repay loans collateralized with Bitcoin. This move aims to strengthen the company's balance sheet, reduce financial leverage, and support its transition towards AI computing infrastructure. Additionally, Cango has appointed Jack Jin as the CTO of its AI business line to advance its distributed GPU inference and computing platform.