Key Takeaways
- Cango Inc. plans to issue 7 million Class B ordinary shares to Enduring Wealth Capital Limited for a total purchase price of $10.5 million.
- The move would expand EWCL’s voting influence, increasing it to nearly half of the company’s total voting power.
Cango Inc., a China-based automotive services platform turned Bitcoin miner, announced Monday a proposed $10.5 million investment from Enduring Wealth Capital Limited (EWCL) through the issuance of 7 million Class B ordinary shares.
With the new shares, EWCL’s stake would rise to nearly 4.7% of outstanding shares, and its voting control would approach 50%. The company noted that the transaction is pending NYSE approval, with completion expected in January 2026.
Cango reported that it held 7,419 BTC valued near $649 million as of December 25 and mined around 129 BTC last week, which it described as a strong finish to 2025.
The company said it plans to prioritize operational excellence and greater power-supply control in 2026 to support future AI data center expansion and Bitcoin mining growth through disciplined execution.
Source: https://cryptobriefing.com/cango-secures-capital-from-shareholder/
