Bitcoin miner Cango plans $10.5M capital raise from major shareholder
Crypto Briefing
Bitcoin miner Cango plans a $10.5 million capital raise from Enduring Wealth Capital Limited via new share issuance.Summary
Cango Inc., a company transitioning from automotive services to Bitcoin mining, announced a proposed $10.5 million investment from Enduring Wealth Capital Limited (EWCL). This investment involves issuing 7 million Class B ordinary shares to EWCL, which, upon completion pending NYSE approval, would increase EWCL's voting control to nearly 50% of the company's total voting power, despite only representing about 4.7% of outstanding shares. Cango, which held nearly $649 million in Bitcoin as of late December 2025, plans to use 2026 to focus on operational excellence and securing power supply to support future growth in both AI data centers and Bitcoin mining.
(Source：Crypto Briefing)