Cango Inc. Raises $75.5 Million for Expansion in Bitcoin Mining and AI Technologies

Cango Inc. Boosts Its Financial Position with Major Equity Investments

Cango Inc. (NYSE: CANG), a prominent player in the Bitcoin mining industry, has recently made headlines by concluding a significant equity investment totaling $10.5 million from Enduring Wealth Capital Limited (EWCL). This investment is set against the backdrop of Cango's ambitious efforts to enhance its global operations in the integration of energy and artificial intelligence solutions.

On February 12, 2026, the company proudly announced the completion of the aforementioned equity investment while simultaneously securing additional financing of $65 million through agreements with wholly-owned entities controlled by key figures within the organization, including Cango's President, Xin Jin, and director, Chang-Wei Chiu. These developments signal a promising future for the company as it navigates the increasingly competitive Bitcoin mining sector.

In a strategic prior move on December 29, 2025, Cango signed an investment agreement with EWCL, resulting in the issuance of 7 million Class B ordinary shares at a price of $1.50 per share. This infusion of capital has notably increased EWCL’s ownership stake from approximately 2.81% to about 4.71% of the company’s total shares, while simultaneously boosting its voting power from around 36.68% to a commanding 49.71%.

To further solidify confidence in Cango's strategic direction and future prospects, both Mr. Jin and Mr. Chiu expressed their commitment to make additional equity investments. As a result, Cango has formalized agreements with entities Fortune Peak Limited, owned by Mr. Chiu, and Armada Network Limited, owned by Mr. Jin. These deals entail the purchase of 29,975,137 and 19,267,287 Class A ordinary shares, respectively, for a total investment of approximately $39.57 million and $25.43 million at a price of $1.32 per share.

Upon the closing of these investments, Mr. Chiu is projected to hold roughly 11.99% of the total outstanding shares and 6.71% of the voting power, while Mr. Jin will have about 4.70% ownership and 2.63% voting power. However, the closure of each investment is contingent upon customary conditions and regulatory approvals, with an anticipated completion by February 2026.

The funds raised from these investments are earmarked to support Cango's expansion efforts in the realms of artificial intelligence and computing infrastructure. This strategic pivot aims to fortify Cango's financial standing and operational capabilities in a market that demands flexibility and innovation.

Investor Relations Contact: Juliet Ye, Head of Communications
Email: [email protected]

For further details, check the official Cango website and the latest news updates.