Cango Inc. Secures $10.5 Million Capital Investment to Expand AI and Infrastructure

Cango Inc. Seals $10.5 Million Capital Investment

Cango Inc. (NYSE: CANG), a prominent player in the Bitcoin mining sector, has recently announced the closing of a significant capital investment amounting to $10.5 million. This investment was made by Enduring Wealth Capital Limited (EWCL), and aims to bolster the company's global operations and expand its artificial intelligence and computational infrastructure.

Overview of the Investment

On February 12, 2026, Cango revealed that it had successfully completed the pre-announced investment, which is set to transform its strategic trajectory in the cryptocurrency market. Additionally, the company not only received the $10.5 million from EWCL but also secured further capital commitments totaling $65 million from associates of the company's president, Xin Jin, and director, Chang-Wei Chiu. This complements Cango’s plans for further growth and expansion in the AI industry.

Strategic Interests of the Investors

The investment from EWCL is aligned with Cango’s efforts to enhance its market position by integrating energy solutions and AI technologies within its operations. The firm’s ambitions include expanding its existing infrastructure to support the vast computations necessary for Bitcoin mining.

With the closure of this capital investment, EWCL's ownership stake in Cango has risen from approximately 2.81% to around 4.71%. This change also enhances EWCL's voting power in the company, soaring from about 36.68% to nearly 49.71% of total voting rights, showcasing the investors' growing influence in the company.

Additional Capital Infusion

In a move that reaffirms their confidence in Cango’s future, both Jin and Chiu have expressed intentions to partake in additional funding rounds—aiming to strengthen the company’s financial foothold. Future capital arrangements include an agreement between Chiu’s wholly-owned Fortune Peak Limited, which will subscribe to nearly 30 million Class A shares valued at approximately $39.57 million. Meanwhile, Jin’s Armada Network Limited is set to invest in approximately 19.27 million Class A shares, bringing its total to about $25.43 million. This strategic framework emphasizes the robustness of Cango's financial strategy and solidifies its path in the competitive landscape of Bitcoin mining and AI development.

Future Outlook

Following the completion of these investments, it is anticipated that Chiu will hold about 11.99% of Cango’s overall shares, along with a voting power of 6.71%. Jin is expected to wield approximately 4.70% of shares and 2.63% of voting rights. The closure of these investments is still pending usual conditions and regulatory approvals, with expectations set for their finalization in February 2026.

The foundational goal of these investments is to propel Cango's capabilities in AI and computational infrastructure, critical components in sustaining competitive advantages in the rapidly evolving Bitcoin mining sector. As the market continues to mature, Cango's planned initiatives position it well for sustainable growth and innovation moving forward.

Cango Inc. looks ahead with optimism as it embarks on this new chapter designed to not only drive expansion but to also reinforce its financial health and operational capabilities in both energy and artificial intelligence sectors.

For inquiries, Cango’s Investor Communications is managed by Juliet Ye, who can be reached at [email protected]