Cango said it has closed a $10.5 million equity investment from EWCL and signed definitive agreements for another $65 million from entities controlled by Chairman Xin Jin and director Chang-Wei Chiu.

Bitcoin miner Cango Inc. announced a $10.5 million investment from EWCL at $1.50 per Class B share. Post-transaction, EWCL's voting power jumps from 36.68% to 49.61%. Funds will boost mining ops and energy/AI compute expansion.