Kango Raises $75 Million in New Capital to Expand EcoHash AI Computing Platform – Mining Bitcoin News
US-listed Bitcoin mining Cango Closes $75M Funding Round for AI Expansion
The $65 million equity placement was purchased by entities controlled by Chairman Xin Jin and Director Chang-Wei Chiu. The transaction issued 49,242,424 Class A common shares, adjusted for proceeds. USDT. The agreement is that the company
On April 1, Cango (NYSE: CANG ) executed a separate convertible note with Hong Kong-listed financial services group DL Holdings Group Ltd. (HKEX: 1709 ) in the principal amount of $10 million. The note bears no interest under normal conditions, matures on April 1, 2028, and is convertible into Class A common shares at $1.62 per share effective April 1, 2027.
DL Holdings also received warrants to purchase 370,370 Class A shares at $2.70 each, exercisable immediately through April 2028. Both parties signed a memorandum of understanding for an additional strategic investment of up to $10 in crypto mining and AI utilities.
Kango entered Bitcoin mining in November 2024 after operating as an automotive service company. The company drilled 6,594.6 BTC Over 40 stations in North America, Middle East, South America and East Africa throughout the year 2025. Full-year revenue reached $688.1 million, operating at $675.5 million Bitcoin mining Income.
However, the company posted a net loss of $452.8 million due to a post-half push and investment in new infrastructure. In February 2026, Kangoo sold 4,451 BTC At an average price of approximately $68,524 per penny, approximately $305 million in net income. The total amount was $557.6 million as of December 31, 2025, and it paid off bitcoin-linked loans by cutting long-term related-party debt.
The company is directing the proceeds from the new financing toward upstream acquisitions and AI computing infrastructure at its Ecohash subsidiary, it said in today's announcement. Combined Energy and Distributed AI inference pilot projects are underway, with site restoration works underway.
The combined financing rounds total approximately $75 million and follow a $10.5 million equity investment from Sustainable Wealth Capital Ltd., which was completed in early February. Cango management has identified AI and energy infrastructure as its main 2026 growth strategy, with bitcoin mining as the basis for high-value computing revenue.
As he says bitcoinminingstock.io, cAngo is ranked 18th among the officially sold ones bitcoin Miners worldwide, on a network of over 40 sites, producing a hash rate of 34.55 exahash per second (EH/s). The company produced 455. BTC in February 2026 and currently holds 3,313 BTC At the Treasury, it was valued at approximately $227.1 million – or 956.66 satoshis per share.
The location of the treasure reflects the dual classification of Kango as both active bitcoin miner And a bitcoin treasury company, a structure that directly connects the balance sheets. BTC price Activities. Despite the capital increase, CANG shares are under pressure. The stock traded at $0.40 on April 1st, down 5.18% on the day and has lost 73.65% year-to-date and 89.73% over the past 12 months.
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The company has a market capitalization of approximately $136.9 million with 346.35 million shares outstanding. The 50-day moving average was at $0.81 and the 200-day was at $2.94, reflecting the depth of the sell-off compared to where 2025 was mostly traded. Fresh financing increases capital, but the share price shows that investors are expecting performance.
Frequently Asked Questions 🧭
What money did Kango raise? Cango has raised $75 million in equity and convertible note financing to support AI infrastructure development and reduce debt through its EcoHash platform. Who invested in Kango's last round? Company insiders controlled by chairman Xin Jin and director Chang-Wei Chiu offered $65 million, while DL Holdings Group offered a $10 million convertible note. What is Cango's Ecohash platform? EcoHash is a Cango subsidiary focused on leveraging Bitcoin's mining station infrastructure to provide dynamic AI data and distributed computing services. how much bitcoin Cango mined? Kango announced that it has mined 6,594.6 BTC in the full year of 2025, after entering 7,528.4 BTC at the end of 2024.
