on Cango Inc.
Cango Inc. Gains $10.5 Million Investment from EWCL for Growth
On December 30, 2025, Bitcoin mining company Cango Inc. announced a $10.5 million investment from Enduring Wealth Capital Limited (EWCL). The investment will be used to acquire additional Class B ordinary shares at $1.50 per share. This transaction aligns with Cango's growth objectives, providing substantial capital for core initiatives.
The agreement, dated December 29, 2025, will affect EWCL's influence within Cango. EWCL's shareholding is expected to increase from 2.81% to 4.69%, boosting its voting power from 36.68% to 49.61%. Such shift underscores a strategic alignment between Cango and its investor.
CEO Paul Yu expressed confidence in the investment, viewing it as a step towards enhancing operational capabilities in Bitcoin mining. The funds will also support developments in energy and AI compute. The transaction's completion is anticipated in January 2026, subject to customary approvals.
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