Cango Inc.

Cango Inc. is strategically transforming from a Bitcoin miner to an AI compute infrastructure platform, aiming to leverage its existing energy infrastructure to meet the growing demand for AI compute capacity. This pivot is expected to open new, durable revenue streams and strengthen its balance sheet.

Cango Inc. closed a US$10.5 million equity investment from Enduring Wealth Capital Limited and secured an additional US$65 million in equity investments from entities owned by Mr. Xin Jin and Mr. Chang-Wei Chiu. These investments will support its expansion into AI and computing infrastructure and strengthen its balance sheet.

Cango Inc. reported significant revenue growth from its Bitcoin mining operations in 2025, with total revenues of US$688.1 million. However, the company also recorded a net loss of US$452.8 million due to transformation costs and fair-value adjustments. Cango Inc. is pivoting to become an AI infrastructure provider through Cango Inc.===EcoHash and has strengthened its balance sheet.

Cango Inc. secured US$65 million in strategic investment from its leadership and US$10 million in convertible note financing from DL Holdings Group Limited. These transactions strengthen its balance sheet, reduce leverage, and provide liquidity for its pivot towards AI infrastructure and cryptocurrency mining facilities.

Cango Inc. announced a positive operational update for March 2026, highlighting strategic optimization of its Bitcoin mining operations, a 19.3% reduction in production costs, and a strengthened balance sheet through de-leveraging and capital infusions. These actions position Cango Inc. for its planned transition into energy and AI infrastructure.