Cango Inc. (NYSE: CANG), a Bitcoin miner pivoting into an integrated energy and AI compute platform, has secured a $10.5 million top-up investment from Enduring Wealth Capital Limited (EWCL). Under a December 29 investment agreement, EWCL will subscribe for 7 million Class B ordinary shares at $1.50 per share, each carrying 20 votes. Upon closing, EWCL's economic stake edges from roughly 2.81% to 4.69%, but its voting power soars from 36.68% to 49.61% — just shy of a majority. The Class B share structure gives EWCL outsized influence relative to its capital outlay.
Vote Leverage and Strategic Alignment
CEO and Director Paul Yu called the move “a powerful vote of confidence in our strategic roadmap.” He noted that stronger alignment with a major shareholder who fully grasps Cango's vision allows the company to execute “with greater certainty and ambition.” The deal is expected to close in January 2026, subject to NYSE approval and other customary conditions.
Capital Deployment: Mining Efficiency, Energy and AI Compute
The fresh capital will be channeled into three priorities for 2026: improving hashrate efficiency, upgrading the mining fleet, and selectively acquiring strategic mining assets. Beyond core mining, the investment also supports parallel development in energy and AI compute — two pillars Cango plans to build into a global infrastructure platform “capable of powering the future digital economy,” according to Yu. The company currently operates Bitcoin mining facilities while exploring renewable energy and AI compute leasing, aiming for a triple revenue stream.