Bitcoin mining company Cango Inc. (NYSE:CANG) announced that EWCL, the sole shareholder of Class B common stock, will subscribe for 7 million shares of Class B common stock (20 votes per share at a price of $1.5) for $10.5 million in cash. After the completion of the transaction, EWCL's shareholding ratio will increase from about 2.81% to about 4.69%, and the voting rights may increase from 36.68% to about 49.61%, which is close to absolute control. The transaction is still subject to NYSE approval and is expected to close in January 2026.