Bitcoin mining company Cango Inc. said Feb. 12 it closed a previously announced $10.5 million equity investment from Enduring Wealth Capital Ltd. and entered definitive agreements for an additional $65 million of Class A equity investments from entities wholly owned by Chairman Xin Jin and director Chang‑Wei Chiu, with purchases priced at $1.32 per Class A share and $1.50 per Class B share.

After the EWCL Class B closing, EWCL’s ownership rose to about 4.71% of outstanding shares and its voting power to about 49.71%, while the proposed Class A investments would leave Mr. Chiu with roughly 11.99% ownership and Mr. Jin with about 4.70% ownership if completed.

Cango said proceeds will support expansion into (AI) and computing infrastructure and strengthen its balance sheet, and that closing of the Mr. Jin and Mr. Chiu investments remains subject to customary conditions, including New York Stock Exchange approvals, with the company expecting closings in February 2026 but cautioning they may not occur.

Read More: Cango Sells 4,451 BTC as Miner Selling Adds Pressure to Bitcoin in 2026

• Who invested in Cango in the Feb. 12 announcement? — Enduring Wealth Capital Ltd. closed a $10.5 million Class B investment and entities owned by Xin Jin and Chang‑Wei Chiu agreed to subscribe for $65 million of Class A shares.
• How will the investments affect ownership and voting power? — EWCL’s stake rose to about 4.71% of shares and roughly 49.71% of voting power, while the proposed Class A deals would give Mr. Chiu about 11.99% ownership and Mr. Jin about 4.70% ownership if closed.
• What will Cango use the funds for? — The company said it will use proceeds to expand into AI and computing infrastructure and to strengthen its balance sheet.
• Are the new Class A investments finalized? — The company expects closings in February 2026 but said each Class A investment is subject to customary closing conditions, including NYSE approval, and is not guaranteed.

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