#What is Cango Inc. planning with Enduring Wealth Capital Limited?
Cango Inc. is set to issue 7 million Class B ordinary shares to Enduring Wealth Capital Limited, resulting in a transaction valued at approximately $10.5 million. This strategic move is expected to increase EWCL’s voting influence significantly, bringing its control to nearly half of Cango’s total voting power.
As a leading automotive services platform that has recently transitioned into Bitcoin mining, Cango's announcement marks a significant development in its growth trajectory. Upon completion of the share issuance, EWCL will hold close to 4.7% of Cango’s outstanding shares, edging its voting power closer to 50%. This transaction awaits approval from the New York Stock Exchange, with an anticipated completion date in January 2026.
#How is Cango Inc.'s Bitcoin mining performance shaping its future?
Cango has reported substantial Bitcoin holdings, with a total of 7,419 BTC valued near $649 million as of December 25. Recently, the company mined around 129 BTC in just one week, culminating in what was characterized as a robust conclusion to 2025. As it moves forward into 2026, Cango intends to prioritize operational excellence and secure power supply control, recognizing these factors as vital to supporting its future AI data center expansion alongside Bitcoin mining ventures.
Cango's commitment to disciplined execution underscores its focus on maximizing efficiency and operational capabilities. The company aims to leverage its growing Bitcoin assets to enhance its presence in the market, positioning itself for sustainable growth amidst the evolving landscape of cryptocurrency and AI technologies.