ewcl

According to PRNewswire, Bitcoin mining company Cango Inc. (NYSE: CANG) announced a $10.5 million investment from Enduring Wealth Capital Limited (EWCL). Under the agreement, EWCL will subscribe to 7 million shares of Class B common stock at a price of $1.50 per share, with each share having 20 votes.Upon completion of the transaction, EWCL's ownership stake in Cango is expected to increase from approximately 2.81% to about 4.69%, and its voting power will rise from approximately 36.68% to around 49.61%. Cango CEO Paul Yu stated that the funds will be used to strengthen Bitcoin mining operational capacity, enhance hash rate efficiency, upgrade mining equipment, and selectively acquire strategic mining assets.

ChainCatcher news, according to PR Newswire, the New York Stock Exchange-listed company Cango announced that its co-founders Xiaojun Zhang and Jiayuan Lin, along with its holding company, have reached a securities purchase agreement with Enduring Wealth Capital Limited (EWCL) to sell 10 million shares of Class B common stock, with a total purchase price of $70 million (of which $15 million will be paid only upon the fulfillment of certain conditions).Previously, Cango announced that its board of directors had approved a stock repurchase plan, intending to repurchase issued American Depositary Shares (ADS) and Class A common stock over the next 12 months starting from April 25, 2025, with a repurchase scale of up to $30 million.