Cango Closes $75 Million Investment Deal to Advance AI Strategy

TLDR

• Cango has secured $75 million in equity investment to support its AI expansion strategy.
• The company raised $10.5 million from Enduring Wealth Capital Limited by issuing Class B shares.
• Cango has also secured $65 million in equity commitments from its chairman and board director.
• The funds will be used to strengthen Cango’s balance sheet and enhance its AI and computing infrastructure.
• Cango recently sold 4,451 BTC for around $305 million to increase liquidity and fund its AI initiatives.
• The transactions are expected to close in February, pending approval from the New York Stock Exchange.

Cango Inc. (NYSE: CANG), a prominent Bitcoin miner, has secured a $75 million equity investment to fuel its expansion into artificial intelligence (AI) and computing infrastructure. The investment includes a $10.5 million equity commitment, with an additional $65 million in equity agreements. Cango plans to utilize this capital to bolster its AI initiatives while enhancing its financial position.

Cango Completes $10.5 Million Investment from Enduring Wealth Capital Limited

Cango has finalized a $10.5 million investment from Enduring Wealth Capital Limited (EWCL). The company issued 7 million Class B ordinary shares at $1.50 per share, with each Class B share carrying 20 votes. Following this transaction, EWCL now holds approximately 4.7% of the total outstanding shares and controls nearly 49.7% of the total voting power.

The investment strengthens Cango’s position as it continues to expand its operations. The equity raised will support the company’s strategic shift toward AI technologies, positioning it for future growth.

Alongside the $10.5 million investment, Cango has also secured $65 million in equity commitments from entities fully owned by the company’s chairman, Xin Jin, and board director, Chang-Wei Chiu. The $65 million investment will involve the purchase of Class A ordinary shares at $1.32 per share. The price was determined based on the closing price of Cango’s Class A shares over the last four weeks.

The Class A shares will carry one vote per share, and the transactions are subject to customary closing conditions. These include approval from the New York Stock Exchange and other regulatory requirements. The transactions are expected to close by February.

Capital Raise Follows Bitcoin Sale to Strengthen Liquidity

The $75 million in equity investments comes shortly after Cango’s decision to sell 4,451 BTC for approximately $305 million. This sale was part of a strategy to increase liquidity and support the company’s AI push. At the close of 2025, Cango held over 7,500 BTC, reflecting its aggressive accumulation strategy before the partial divestment.

With the new funds, Cango is positioning itself to further develop integrated energy solutions and distributed AI computing projects. The company’s global mining operations, spread across more than 40 sites, will continue to support its evolving strategy. The investments align with Cango’s long-term goal of combining Bitcoin mining with AI and high-performance computing.

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