Cango Inc. Announces Significant Equity Investment to Enhance AI and Energy Operations

Cango Inc. Secures Major Investments to Propel Growth

Cango Inc. (NYSE: CANG), a prominent player in Bitcoin mining, has successfully closed a crucial equity investment worth $10.5 million from Enduring Wealth Capital Limited (EWCL). This strategic move is complemented by significant additional equity investments totaling $65 million from key stakeholders, aimed at bolstering Cango's ambitions in integrated energy and AI compute platforms.

On February 12, 2026, Cango announced this vital step forward in its journey to solidify its position within the digital economy. The equity investment from EWCL, first disclosed on December 29, 2025, saw Cango issue 7 million Class B ordinary shares priced at $1.50 per share, thus increasing EWCL's ownership stake from approximately 2.81% to 4.71%. This incremental stake has also augmented EWCL’s voting power, enhancing it from roughly 36.68% to a formidable 49.71% of the agency's voting control.

In a demonstration of confidence in Cango's strategic trajectory, Mr. Xin Jin, the company's chairman, and Mr. Chang-Wei Chiu, a director, have pledged additional investments via their respective wholly-owned entities. These investments draw a combined total of $65 million, comprising two distinct agreements. The first involves Fortune Peak Limited, owned by Mr. Chiu, which will purchase nearly 30 million Class A ordinary shares at an investment of approximately $39.57 million. The second agreement falls under Armada Network Limited, controlled by Mr. Jin, set to acquire approximately 19.3 million shares for $25.43 million.

The agreed share price for these transactions, set at $1.32 per share, reflects careful consideration of the previous trading days of Cango's Class A ordinary shares. Following the completion of both investments, stakeholders will enjoy increased ownership percentages, with Mr. Chiu anticipated to hold around 11.99% of total shares and Mr. Jin approximately 4.70%.

Cango understands the pressing need to adapt and invest wisely in the rapidly evolving tech landscape. With the fresh capital from both the Class B investment and the proposed Class A investments, the company plans to accelerate its expansion into artificial intelligence and computing infrastructure. This strategic direction is expected to substantially enhance Cango's operational capacity while stabilizing its financial foundation.

The anticipated closing of these transactions is set to occur in February 2026, provided all customary approvals—including from the New York Stock Exchange—are duly satisfied. Despite this optimistic outlook, there remain uncertainties inherent in any investment process, with market conditions and compliance procedures posing potential setbacks.

As a dynamic entity within the Bitcoin mining sector, Cango Inc. has rapidly adapted to the demands of the digital era since its inception into this realm in late 2024. With operations spanning over 40 international sites, including regions in North America, South America, the Middle East, and East Africa, Cango is committed to establishing a robust, integrated infrastructure that not only addresses energy consumption but also amplifies AI capabilities.

In addition to its mining operations, Cango continues to maintain a thriving online used car export business through AutoCango.com, demonstrating versatility across multiple industries. Cango is poised to play a pivotal role in the future digital economy, and these latest investments are a testament to its commitment to innovation and growth in the tech landscape.

For further information about Cango Inc. and its operations, please visit www.cangoonline.com.

Safe Harbor Statement

This press release contains forward-looking statements under the provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements, based on current expectations, involve inherent risks and uncertainties that could lead to actual results differing materially from those projected. Investors are encouraged to consult Cango's SEC filings for comprehensive risk assessments related to the company's operational strategies and future projections.