Cango receives a $10.5 million strategic investment from EWCL.

Odaily Planet Daily reports that Bitcoin mining company Cango Inc. announced 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 US$1.50 per share, for a total investment of US$10.5 million. Each Class B common share corresponds to 20 votes.

Following the transaction, EWCL's stake in Cango is expected to increase from approximately 2.81% to approximately 4.69%, corresponding to an increase in voting rights 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 funding will strengthen the company's cash reserves to support its Bitcoin mining business and the continued advancement of its energy, computing power, and AI-related initiatives.