Cango Raises $10.5M Investment, EWCL Stake Increases to 4.69%
Cango announced that Enduring Wealth Capital, the sole shareholder of the Company's Class B ordinary shares with approximately 36.68% of the total voting power of the company's outstanding shares, decided to increase its investment in the company by subscribing for additional Class B ordinary shares of the company in cash. Pursuant to an investment agreement dated December 29 between the company and EWCL, the company will issue and deliver to EWCL 7M Class B ordinary shares, each carrying 20 votes per share. EWCL will subscribe for and purchase these shares for an aggregate purchase price of US$10.5M, implying a per-share price of $1.50. Upon closing of the Proposed Investment, EWCL's shareholding in the company is expected to increase from approximately 2.81% to approximately 4.69% of the total outstanding shares. Correspondingly, EWCL's voting power is expected to rise from approximately 36.68% to approximately 49.61% of the total voting power of the company's outstanding shares. Closing of the proposed investment is subject to certain customary closing conditions, including the requisite approval by the New York Stock Exchange. The company expects to close the transaction in January 2026.
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Cango Reports 569 Bitcoins Produced in December, Major Shareholder Increases Investment by $10.5 Million
- Bitcoin Production Growth: Cango produced 569 Bitcoins in December 2025, an increase from 546 in November, demonstrating the company's ongoing efforts to optimize mining efficiency, thereby enhancing its competitive position in the market.
- Daily Production Increase: The average daily Bitcoin production reached 18.35, slightly up from 18.22 in November, indicating that the company successfully improved production capacity while stabilizing its hashrate, further solidifying its standing in the Bitcoin mining industry.
- Increased Bitcoin Holdings: As of the end of December, Cango's total Bitcoin holdings rose to 7528.3, reflecting the company's strong commitment to long-term digital asset retention, which will provide a buffer against future market volatility.
- Shareholder Confidence Boost: A major shareholder's decision to increase investment by $10.5 million, expected to close in January 2026, not only reflects confidence in the company's strategic plan but also provides funding support for the parallel development of its energy and AI computing platforms.
Cango Reports 569 Bitcoins Produced in December, Major Shareholder Commits $10.5 Million
- Bitcoin Production Growth: Cango produced 569 Bitcoins in December 2025, an increase from 546 in November, with an average daily production rising to 18.35, demonstrating the company's stable growth and adaptability in the Bitcoin mining sector.
- Total Holdings Increase: By the end of December, Cango's total Bitcoin holdings reached 7,528.3 BTC, up from 6,959.3 BTC the previous month, reflecting the company's long-term holding strategy and strengthening its asset base.
- Stable Hashrate Levels: Cango maintained a hashrate of 50 EH/s and an average operational hashrate of 43.36 EH/s in December, ensuring stable mining efficiency and further solidifying its competitive position in the industry.
- Increased Shareholder Confidence: A major shareholder committed $10.5 million at the end of December, expected to close in January 2026, which not only reflects confidence in Cango's strategic roadmap but will also accelerate the parallel development of its energy and AI computing platform.
