PANews reported on February 12th that, according to PR Newswire, Cango Inc. (NYSE: CANG), a US-listed Bitcoin mining company, announced the completion of a $10.5 million Class B common stock investment from Enduring Wealth Capital Limited (EWCL), and a proposed $65 million Class A common stock investment agreement with Armada Network Limited, a wholly-owned entity of Chairman Xin Jin, and Fortune Peak Limited, a wholly-owned entity of Director Chang-Wei Chiu. EWCL will subscribe for 7 million Class B common shares at $1.50 per share, increasing its stake to approximately 4.71% and its voting rights to approximately 49.71%. Fortune Peak plans to subscribe for 29,975,137 Class A common shares for approximately $39.567 million, and Armada Network plans to subscribe for 19,267,287 Class A common shares for approximately $25.433 million, at a price of $1.32 per share. The funds will be used to expand AI and computing infrastructure. The related Category A investments are still subject to approval from the NYSE and other exchanges, and there is uncertainty regarding the closing of the deal.