Cango receives a $10.5 million strategic investment from EWCL.

Bitcoin mining company Cango Inc. announced that it has signed an investment agreement with Enduring Wealth Capital Limited (EWCL), its sole shareholder of Class B common stock. Under the agreement, EWCL will subscribe for 7 million newly issued Class B common shares of Cango at a price of $1.50 per share, for a total investment of $10.5 million. Each Class B common share carries 20 votes. Upon completion of the transaction, EWCL's stake in Cango is expected to increase from approximately 2.81% to approximately 4.69%, and its voting rights will increase from approximately 36.68% to approximately 49.61%. The transaction is still subject to approval from the New York Stock Exchange, and Cango expects to close the deal in January 2026. Cango stated that this financing will strengthen its cash reserves to support its Bitcoin mining business and its ongoing investments in energy, computing power, and AI.