#USA #Dallas #crypto mining #Cango Inc #EWCL Investment

Cango Inc. Secures Significant Investment

Cango Inc. (NYSE: CANG), a prominent player in Bitcoin mining, has recently made headlines by securing a $10.5 million investment from Enduring Wealth Capital Limited (EWCL). This move is set to significantly propel Cango's ambitions in enhancing its energy and artificial intelligence platforms, thereby reinforcing its strategic growth initiatives.

Overview of the Investment

This investment comes in the form of a commitment to purchase Class B ordinary shares at $1.50 each, translating into approximately 7 million additional shares for EWCL. With this transaction, EWCL's stake in Cango is expected to rise from about 2.81% to approximately 4.69% of the total shares outstanding. Notably, the voting power of EWCL will increase significantly, climbing from about 36.68% to nearly 49.61% post-transaction.

Vision and Future Plans

Paul Yu, the CEO of Cango, expressed that this enhanced investment reflects a strong vote of confidence in their strategic roadmap. He underscored the value of aligning with a majority shareholder who understands the company's vision profoundly. This alignment is crucial as Cango aims to execute its plans with greater certainty and ambition.

In 2026, Cango will focus on amplifying its Bitcoin mining capabilities. The specific objectives include:

• - Enhancing Hashrate Efficiency: Cango plans to optimize its existing technologies and processes to boost productivity.
• - Modernizing the Mining Fleet: The company will continually upgrade its mining operations to ensure they remain competitive in the ever-evolving market.
• - Selective Asset Acquisitions: They intend to strategically acquire key mining assets that complement their operational capacity.

Beyond the core mining business, this capital infusion will also enable Cango to develop its strategic pillars in energy and AI technology. The company is actively seeking and investing in synergistic opportunities within these sectors. This dual focus aims to establish an integrated global infrastructure platform that supports a vibrant digital economy in the long run.

Expected Timeline

The closing of this investment deal, set for January 2026, hinges on customary closing conditions, including obtaining the necessary approval from the New York Stock Exchange. The finalization of this transaction is anticipated to support Cango's strategic priorities and furnish the required capital for key initiatives in the upcoming year.

Investor Relations Contact

For further inquiries, interested parties can contact:
Juliet Ye
Head of Communications, Cango Inc.
Email: [email protected]
Christensen Advisory
Tel: +852 2117 0861
Email: [email protected]

Cango Inc. continues to position itself at the forefront of the Bitcoin mining industry with ambitious plans for expansion and innovation, bolstered by substantial new investments and a clear strategic focus.