DALLAS, Feb. 12, 2026 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a leading Bitcoin miner that leverages its global operations to develop an integrated energy and AI platform, today announced that it has closed a previously announced $10.5 million and equity investment in Enduring Limited from Enduring Limited. definitive agreements with entities wholly owned by Mr. Xing Jin, the company’s chairman and Mr. Chang-Wei Chiu, the company’s director, according to which these entities agreed to invest in the company’s total equity capital of 65 million US dollars.
As previously announced, the Company entered into an investment agreement with EWCL on December 29, 2025 and recently issued 7 million Class B common shares, each carrying 20 votes per share, to EWCL at a price of US$1.50 per share (the “Class B Investment”). Following the closing, EWCL’s beneficial ownership increased from approximately 2.81% to approximately 4.71% of the Company’s common stock and its voting power increased from approximately 36.68% to 49.71% of the total voting power.
To confirm their confidence in the company’s strategic trajectory and future prospects, Mr. Jin and Mr. Chiu indicated their intention to invest in equity. With the approval of the audit committee and board of directors, the Company (i) entered into an investment agreement with Fortune Peak Limited (“FPL”), which is wholly owned by Mr. Chiu, pursuant to which FPL agrees to subscribe for 29,975,137 Class A ordinary shares, each holding one share. US$39,567,181 (the “Mr. Chiu Class A Investment”) and (ii) an investment agreement with Armada Network Limited (“ANL”), which is wholly owned by Mr. Jin, for 19,267,287 Class A shares for US$25,432,819 (the “J Class”). The purchase price of $1.32 per share was determined by reference to the closing price of the Class A shares over the previous four weeks.
Upon completion, Mr. Chiu is expected to own approximately 11.99% of the outstanding shares and 6.71% of the voting power; Mr. Jin approximately 4.70% and 2.63% respectively. The closing of each investment is subject to customary conditions and regulatory approvals, both of which are expected to close in February 2026.
The company intends to use the proceeds of this investment to support its expansion into artificial intelligence and computing infrastructure while further strengthening its balance sheet.
Contact with investors
Juliet Yeh, Head of Communications
(email protected)
