Cango Inc. (NYSE: CANG) said Wednesday it secured some additional financing while also revealing its shares could be delisted if its stock price doesn’t recover.
The bitcoin miner said the New York Stock Exchange sent it a notice on March 10 that the company is in jeopardy of having its shares delisted due to Cango’s stock trading below $1.00. Cango has six months to raise its share price, the NYSE said in a notice. It needs to achieve both a closing price and a 30-day average of at least $1.00.
Cango’s shares were changing hands at $0.40 as of 10:29 a.m. ET, down 4% on the day, according to Yahoo Finance.
The company also said it had secured some fresh capital to further growth and “support its expansion into AI and computing infrastructure.” On top of securing a $65 million “strategic investment from members of company leadership,” Cango also raised another $10 million through a convertible note financing deal with Hong Kong-listed DL Holdings.
The $65 million investment came from board chairman Xin Jin and director Chang-Wei Chiu, who purchased shares in the company.
Cango faces mounting pressure after posting a $452.8 million net loss for 2025, its first full year operating as a bitcoin miner. The company is trying to follow the lead of other bitcoin miners and capture some of the demand created by the AI industry’s need for computing power and infrastructure.
In February, the company sold 4,451 BTC for roughly $305 million to repay part of a bitcoin-collateralized loan.
© 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.
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