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

Key Takeaways

• Cango Inc. plans to issue 7 million Class B ordinary shares to Enduring Wealth Capital Limited for a total purchase price of $10.5 million.
• The move would expand EWCL’s voting influence, increasing it to nearly half of the company’s total voting power.

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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.

#WeeklyUpdate Cango mined 129.4 #BTC this week, pushing our total bitcoin holdings to 7419.4 BTC — a strong finish as we close out 2025.

Driven by disciplined execution, we head into 2026 focused on operational excellence and securing power-supply control to support future AI… pic.twitter.com/8eNEx82tta

— CANGO (@Cango_Group) December 26, 2025