TechFlow News, February 12: According to PRNewswire, Cango Inc. (NYSE: CANG), a Bitcoin mining company listed on the New York Stock Exchange, announced the completion of its previously announced $10.5 million equity investment from Enduring Wealth Capital Limited (EWCL). Additionally, Cango signed agreements with entities wholly owned by its Chairman Xin Jin and Director Chang-Wei Chiu, who committed to invest a total of $65 million in the company.
Cango stated that it will use these funds to support its expansion into artificial intelligence and computing infrastructure, as well as further strengthen its balance sheet.
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