Mining company Cango receives approximately $75.8 million in equity investment to advance its AI and computing power layout According to PR Newswire, US listed Bitcoin mining company Cango Inc (NYSE: CANG) announced that it has completed a $10.5 million Class B common stock investment from Enduring Wealth Capital Limited (EWCL) and signed a proposed $65 million Class A common stock investment agreement with Armada Network Limited, a wholly-owned entity of Chairman Xin Jin, and Fortune Peak Limited, a wholly-owned entity of Director Chang Wei Chiu. EWCL subscribed for 7 million shares of Class B common stock at a price of $1.50 per share, increasing its shareholding to approximately 4.71% and voting rights to approximately 49.71%. Fortune Peak plans to subscribe for 29975137 shares of Class A common stock for approximately $39.567 million, while Armada Network plans to subscribe for 19267287 shares of Class A common stock for approximately $25.433 million at a price of $1.32 per share. The funds will be used to expand AI and computing infrastructure, and the related A-class investments are yet to be approved by the New York Stock Exchange and there is uncertainty in delivery.