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Cango
2026-07-02 23:00:14

Bitcoin Miner Cango Sells 4,451 BTC to Repay Debt and Pivot to AI Compute Infrastructure

Dallas-based Bitcoin miner Cango (CANG) announced the sale of 4,451 Bitcoin for approximately $305 million in net proceeds, using the funds to partially repay a Bitcoin-collateralized loan and reduce leverage. The firm simultaneously outlined a strategic shift into AI infrastructure, leveraging its mining sites to deploy containerized GPU compute nodes for SME inference services. Former Zoom executive Jack Jin was appointed CTO of the AI business. The move reflects mounting pressure on miners post-halving, with rising power costs and margin compression driving diversification into AI and high-performance computing. Cango's phased rollout includes modular GPU clusters and a future software orchestration platform to unify distributed compute resources globally.

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Bitcoin Miner Cango Sells 4,451 BTC to Repay Debt and Pivot to AI Compute Infrastructure
Strive
2026-07-02 12:00:14

Strive Raises $225M via SATA Preferred Stock to Pay Off Semler Debt and Adds 333 Bitcoin

Strive, Inc. has closed an upsized follow-on offering of its Variable Rate Series A Perpetual Preferred Stock (SATA), raising $225 million from strong institutional demand that exceeded $600 million. The proceeds were used to retire $110 million of the $120 million debt assumed from the Semler Scientific acquisition, including $90 million in convertible notes exchanged for ~930,000 SATA shares, and to fully repay a $20 million loan from Coinbase Credit, leaving all bitcoin holdings unencumbered. Simultaneously, Strive purchased an additional 333.89 bitcoin at an average price of $89,851, bringing total holdings to 13,131.82 BTC, making it the tenth-largest publicly traded corporate bitcoin holder globally. The company's amplification ratio stands at 37.2%, with 97.7% from preferred equity, and its quarter-to-date bitcoin yield is 21.17%.

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Strive Raises $225M via SATA Preferred Stock to Pay Off Semler Debt and Adds 333 Bitcoin
Strive
2026-07-02 11:45:15

Strive Raises $225M via SATA Preferred Stock, Retires Semler Debt and Adds 333 Bitcoin

Strive, Inc. has closed an upsized $225 million follow-on offering of its Variable Rate Series A Perpetual Preferred Stock (SATA), using proceeds to retire $110 million of Semler Scientific debt and repay a $20 million Coinbase loan. The company also purchased 333.89 Bitcoin at ~$89,851, bringing total holdings to 13,131.82 BTC, making it the tenth-largest publicly traded corporate Bitcoin holder. The rapid deleveraging occurred just 11 days after the Semler acquisition, well ahead of the 12-month target. The firm emphasizes a preferred-equity-only amplification structure to match Bitcoin's long-duration nature.

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Strive Raises $225M via SATA Preferred Stock, Retires Semler Debt and Adds 333 Bitcoin