Bitcoin miner Cango plans $10.5M capital raise from major shareholder

Bitcoin miner Cango plans $10.5M capital raise from major shareholder

Enduring Wealth Capital increases its influence over Cango with strategic investment, eyeing majority control by next year.

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by Vivian Nguyen | Powered by Gloria

Cango Inc., a China-based automotive services platform turned Bitcoin miner, announced Monday a proposed $10.5 million investment from Enduring Wealth Capital Limited (EWCL) through the issuance of 7 million Class B ordinary shares.

With the new shares, EWCL’s stake would rise to nearly 4.7% of outstanding shares, and its voting control would approach 50%. The company noted that the transaction is pending NYSE approval, with completion expected in January 2026.

Cango reported that it held 7,419 BTC valued near $649 million as of December 25 and mined around 129 BTC last week, which it described as a strong finish to 2025.

The company said it plans to prioritize operational excellence and greater power-supply control in 2026 to support future AI data center expansion and Bitcoin mining growth through disciplined execution.

BUSINESS

Bitcoin miner Cango plans $10.5M capital raise from major shareholder

Bitcoin miner Cango plans $10.5M capital raise from major shareholder

Enduring Wealth Capital increases its influence over Cango with strategic investment, eyeing majority control by next year.

by Vivian Nguyen | Powered by Gloria

Share

Add us on Google

Cango Inc., a China-based automotive services platform turned Bitcoin miner, announced Monday a proposed $10.5 million investment from Enduring Wealth Capital Limited (EWCL) through the issuance of 7 million Class B ordinary shares.

With the new shares, EWCL’s stake would rise to nearly 4.7% of outstanding shares, and its voting control would approach 50%. The company noted that the transaction is pending NYSE approval, with completion expected in January 2026.

Cango reported that it held 7,419 BTC valued near $649 million as of December 25 and mined around 129 BTC last week, which it described as a strong finish to 2025.

The company said it plans to prioritize operational excellence and greater power-supply control in 2026 to support future AI data center expansion and Bitcoin mining growth through disciplined execution.