Cango Inc. has successfully closed a significant equity investment totaling $10.5 million and secured additional equity commitments amounting to $65 million. This announcement was made on February 12, 2026, as the company aims to enhance its operations in Bitcoin mining and expand its integrated energy and AI compute platform.
Cango Inc. (NYSE: CANG), based in Dallas, is a prominent player in the Bitcoin mining sector. The company revealed that the $10.5 million investment comes from Enduring Wealth Capital Limited (EWCL), with whom Cango had previously entered into an investment agreement on December 29, 2025. In this transaction, Cango issued 7 million Class B ordinary shares at $1.50 per share, increasing EWCL’s ownership from approximately 2.81% to 4.71% of total outstanding shares. This share issuance also boosted EWCL’s voting power from around 36.68% to 49.71%.
In addition to the investment from EWCL, Cango has entered into definitive agreements with companies controlled by its Chairman, Xin Jin, and Director Chang-Wei Chiu. These agreements total $65 million in equity investments, reflecting the leaders’ confidence in the company’s future. Specifically, Mr. Chiu’s entity, Fortune Peak Limited (FPL), has agreed to purchase 29,975,137 Class A ordinary shares at approximately $39.57 million. Meanwhile, Mr. Jin’s company, Armada Network Limited (ANL), will acquire 19,267,287 Class A shares for around $25.43 million.
The share price for these investments was set at $1.32 per share, based on the average closing price of Cango’s Class A shares over the preceding month. Following these transactions, Mr. Chiu is expected to hold approximately 11.99% of Cango’s total outstanding shares and about 6.71% of the voting power, while Mr. Jin will possess approximately 4.70% of the shares and 2.63% of the voting rights.
The closing of each investment is contingent upon standard conditions and regulatory approvals, both expected to conclude in February 2026. Cango intends to allocate the proceeds from these investments to bolster its expansion into artificial intelligence and computing infrastructure, thereby strengthening its financial position.
The announcements underscore Cango Inc.’s strategic initiatives and commitment to enhancing its operational capabilities in the rapidly evolving landscape of energy and technology.
