Mining Firm Cango Receives $10.5 Million Investment from EWCL to Enhance Mining Operations
BlockBeats News, December 30th, according to PR Newswire, Bitcoin mining firm Cango Inc. (CANG) announced that it has received 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, with each share having 20 votes. Following the transaction, EWCL's ownership in Cango is expected to increase from approximately 2.81% to around 4.69%, and its voting power from about 36.68% to around 49.61%.
Cango CEO Paul Yu stated that this funding will be used to enhance Bitcoin mining operational capabilities, improve hash rate efficiency, upgrade mining equipment, and selectively acquire strategic mining assets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
McDonald's US Same-Store Sales May Remain Under Pressure, RBC Says
Saudi Arabia’s oil shipments to Asia surged to nearly 100 million barrels, with Aramco proactively covering transportation and delivering directly to China, India, and Japan-South Korea: Supply shortage expectations meet the reality of correction.
According to reports, since the middle of last week, Saudi Arabia has sold approximately 100 million barrels of crude oil to China, India, Japan, and South Korea, with delivery periods covering October and November. At the same time, Saudi Aramco has made a rare commitment in these transactions to handle logistics and transportation, delivering the crude oil directly to Asian customers. Previously, due to soaring oil prices, Asian refineries had been considering reducing operating rates. This large-scale supply has to some extent mitigated the supply risks faced by Asia.
Embracer shareholders vote to cancel dividend, roll SEK 21.7 billion into retained earnings
Crypto prices
More
