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The company said that two of its directors will purchase an additional $65 million worth of its stock, a week after it sold more than half of its bitcoin holdings

Key Takeaways:
Cango announced that two of its directors have agreed buy $65 million worth of its stock to help finance its accelerating move into distributed computing

The company has been lowering its bitcoin mining activity amid a rapid decline in prices for the cryptocurrency

Cango largely abandoned its original business as a Chinese car trader over a year ago, and initially moved aggressively into bitcoin mining. In a campaign to diversify its business, the company announced plans last year for…

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