Bitcoin miner Cango secures financing as NYSE delisting looms amid low stock price

Cango Inc. (NYSE: CANG) has secured additional financing while simultaneously facing a potential delisting from the New York Stock Exchange (NYSE). The NYSE issued a notice on March 10th stating Cango’s shares are at risk of delisting due to trading below $1.00 for an extended period. Cango has six months to raise its share price to both a closing price and a 30-day average of at least $1.00. As of 10:29 a.m. ET, shares were trading at $0.40, down 4% on the day. The company secured $65 million in strategic investment from Chairman Xin Jin and Director Chang-Wei Chiu, and an additional $10 million through a convertible note financing with DL Holdings, aiming to support expansion into AI and computing infrastructure. This comes after Cango reported a $452.8 million net loss in 2025 and is attempting to leverage the growing demand for computing power in the AI industry.

(Source：The Block)