Bitcoin miner Cango Inc. (NYSE: CANG) said it has closed a previously announced $10.5 million equity investment and entered into agreements securing an additional $65 million in equity commitments to support its AI push.
According to a Thursday statement, the company said it completed the $10.5 million investment from Enduring Wealth Capital Limited, issuing 7 million Class B ordinary shares at $1.50 per share. The Class B shares carry 20 votes each. Following the transaction, EWCL’s beneficial ownership rose to approximately 4.7% of total outstanding shares and roughly 49.7% of total voting power.
Separately, entities wholly owned by Cango Chairman Xin Jin and board director Chang-Wei Chiu agreed to invest a combined $65 million in Class A ordinary shares, which carry one vote per share. The implied purchase price of $1.32 per share was determined with reference to the closing price of Cango’s Class A shares over the preceding four weeks. The transactions remain subject to customary closing conditions, including New York Stock Exchange approval, and are expected to close in February.
Cango said it intends to use the proceeds to support expansion into AI and computing infrastructure while strengthening its balance sheet.
The capital raise follows a recent repositioning of the company’s treasury.
Earlier this month, Cango sold 4,451 BTC for approximately $305 million to reinforce liquidity and fund its AI initiatives. The miner had ended 2025 with reserves above 7,500 BTC, reflecting an aggressive accumulation strategy prior to the partial divestment.
Cango, which entered bitcoin mining in late 2024, operates across more than 40 sites globally and has been developing integrated energy and distributed AI computing projects alongside its mining operations.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
