Cango completes $65 million investment and $10 million financing

Cango, a Bitcoin mining company listed on the New York Stock Exchange, announced the completion of two financing transactions, including a $65 million strategic investment to issue 49242424 shares of Class A common stock to two entities wholly controlled by Chairman Xin Jin and Director Chang Wei Chiu. The transaction was completed on March 31st and the payment was settled in USDT; We have also signed an agreement with DL Holdings Group Limited, listed on the Hong Kong Stock Exchange, to issue $10 million convertible notes and up to 370370 Class A common stock warrants at an exercise price of $2.70 per share.