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Mining Company Cango Receives $10.5 Million Investment from EWCL to Enhance Mining Operations
Summary: According to reports from Reuters, Bitcoin mining company Cango Inc. (CANG) has announced receiving a $10.5 million investment from Enduring Wealth Capital Limited (EWCL). EWCL will subscribe to 7 million shares of Class B common stock at $1.50 per share, each with 20 voting rights. Following the transaction, EWCL's ownership in Cango is expected to ...
According to reports from Reuters, Bitcoin mining company Cango Inc. (CANG) has announced receiving a $10.5 million investment from Enduring Wealth Capital Limited (EWCL). EWCL will subscribe to 7 million shares of Class B common stock at $1.50 per share, each with 20 voting rights. Following the transaction, EWCL's ownership in Cango is expected to increase from approximately 2.81% to around 4.69%, with voting rights rising from about 36.68% to approximately 49.61%. Cango CEO Paul Yu stated that the funds will be used to enhance Bitcoin mining operations, improve computing power efficiency, upgrade mining equipment, and selectively acquire strategic mining assets.
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Link: Mining Company Cango Receives $10.5 Million Investment from EWCL to Enhance Mining Operations [Copy]
