Bitcoin Miner Cango Plans To Raise $10.5M From Major Shareholder
Key receivers
Cango Inc. It plans to purchase 7 million Class B ordinary shares for Enduring Wealth Capital Limited for a total of $10.5 million. The move will expand EWCL's voting power and increase it to almost half of the company's total voting power.
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Cango Inc., a China-based automotive services platform turned Bitcoin miner, announced on Monday that it will issue $10.5 million of 7 million Class B ordinary shares from Sustainable Wealth Capital Limited (EWCL).
With the new shares, EWCL's stake will rise to around 4.7% of the shares, and its voice control will be close to 50%. The company said the transaction is pending NYSE approval, with completion expected in January 2026.
As of December 25th, Kango was worth 7,419 BTC, worth an estimated $649 million, and reported a withdrawal of 129 BTC last week, indicating a strong finish through 2025.
The company said it plans to prioritize operational excellence and advanced power supply control in 2026 to support future AI data center expansion and Bitcoin mining growth with disciplined performance.
#WeeklyUpdate Kango has released 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 performance, we head into 2026 with a focus on operational excellence and ensuring power supply control to support future AI… pic.twitter.com/8eNEx82tta
— CANGO (@Cango_Group) December 26, 2025
