Cango Secures $75M in Fresh Capital to Expand Ecohash AI Computing Platform

U.S.-Listed Bitcoin Miner Cango Closes $75M Financing Round for AI Expansion

The $65 cardinal equity placement was purchased by entities controlled by Chairman Xin Jin and Director Chang-Wei Chiu. The transaction issued 49,242,424 Class A mean shares, with proceeds settled successful USDT. The woody fulfilled definitive agreements the institution announced Feb. 12, 2026, and closed arsenic scheduled.

On April 1, Cango (NYSE: CANG) executed a abstracted convertible enactment with DL Holdings Group Limited (HKEX: 1709), a Hong Kong-listed fiscal services group, for $10 cardinal successful principal. The enactment carries nary involvement nether mean conditions, matures April 1, 2028, and converts to Class A mean shares astatine $1.62 per stock astatine the holder’s enactment opening April 1, 2027.

DL Holdings besides received a warrant to acquisition 370,370 Class A shares astatine $2.70, exercisable instantly done April 2028. Both parties signed a memorandum of knowing for imaginable further strategical concern up to $10 cardinal successful crypto mining and AI facilities.

Cango entered bitcoin mining successful November 2024 aft operating arsenic an automotive services company. The institution mined 6,594.6 BTC successful full-year 2025 crossed much than 40 sites successful North America, the Middle East, South America, and East Africa. Full-year gross reached $688.1 million, driven by $675.5 cardinal successful bitcoin mining income.

However, the institution posted a nett nonaccomplishment of $452.8 cardinal amid post-halving unit and ongoing concern successful caller infrastructure. In February 2026, Cango sold 4,451 BTC astatine an mean terms of astir $68,524 per coin, generating astir $305 cardinal successful nett proceeds. The full sum repaid a bitcoin-collateralized loan, cutting into semipermanent related-party indebtedness that stood astatine $557.6 cardinal arsenic of Dec. 31, 2025.

The institution is directing proceeds from the caller financing toward upstream acquisitions and AI computing infrastructure done its Ecohash subsidiary, according to today’s announcement. Pilot projects for integrated vigor and distributed AI inference are underway, with tract retrofits successful progress.

The combined financing rounds full astir $75 cardinal and travel a $10.5 cardinal equity concern from Enduring Wealth Capital Limited completed earlier successful February. Cango’s absorption has described AI and vigor infrastructure arsenic its superior 2026 maturation strategy, utilizing its bitcoin mining operations arsenic a basal for higher-value computing revenue.

According to bitcoinminingstock.io, Cango ranks 18th among publically traded bitcoin miners globally, operating a hash complaint of 34.55 exahash per 2nd (EH/s) crossed its web of much than 40 sites. The institution produced 455 BTC successful February 2026 and presently holds 3,313 BTC successful treasury, valued astatine astir $227.1 cardinal — oregon 956.66 satoshis per share.

The treasury presumption reflects Cango’s dual classification arsenic some an progressive bitcoin miner and a bitcoin treasury company, a operation that ties its equilibrium expanse straight to BTC price movements. Despite the superior raises, CANG shares are nether pressure. The banal traded astatine $0.40 connected April 1, down 5.18% connected the day, and has mislaid 73.65% year-to-date and 89.73% implicit the past 12 months.

The company’s marketplace capitalization stands astatine astir $136.9 cardinal with 346.35 cardinal shares outstanding. Its 50-day moving mean sits astatine $0.81 and its 200-day astatine $2.94, reflecting the extent of the selloff comparative to wherever the banal traded done astir of 2025. The caller financing adds capital, but the stock terms signals investors are waiting connected execution.

FAQ 🧭

• What did Cango rise wealth for? Cango raised $75 cardinal successful combined equity and convertible enactment financing to money AI infrastructure improvement and trim indebtedness done its EcoHash platform.
• Who invested successful Cango’s latest round? Company insiders controlled by Chairman Xin Jin and Director Chang-Wei Chiu provided $65 million, portion DL Holdings Group provided a $10 cardinal convertible note.
• What is Cango’s Ecohash platform? EcoHash is Cango’s subsidiary focused connected utilizing Bitcoin mining tract infrastructure to present flexible AI inference and distributed computing services.
• How overmuch bitcoin has Cango mined? Cango mined 6,594.6 BTC successful full-year 2025 and has cumulatively mined 7,528.4 BTC since entering the assemblage successful precocious 2024.