Cango (NYSE:CANG) entered into a definitive investment agreement on Dec. 29, 2025, with Enduring Wealth Capital Limited (EWCL) for the private placement of 7 million Class B ordinary shares.
The $10.5 million cash infusion comes as Cango cements its status as one of the world’s largest publicly traded Bitcoin miners, operating a massive 50 EH/s fleet across four continents.
The transaction is priced at $1.50 per share, roughly equivalent to $4.50 per ADS—a premium over recent trading levels.
EWCL, which is the sole holder of Cango’s high-vote Class B shares, currently wields 36.68% of the company's total voting power.
Upon the expected closing in January 2026, EWCL’s voting stake will surge to 49.61%, effectively consolidating its control over the company’s strategic direction.
The investment follows a transformative year for Cango.
After divesting its legacy Chinese automotive business in early 2025, the company pivoted entirely to digital assets and high-performance computing (HPC) under the guidance of its new leadership, which includes Antalpha founder Xin Jin.
The fresh capital is expected to bolster Cango’s ambitious "Energy + HPC" plan.