Gate News, April 1, the NYSE-listed Bitcoin miner Cango Inc. (NYSE: CANG) announced the completion of two important financing transactions. First, the company completed a $65 million strategic investment, issuing a total of 49,242,424 Class A ordinary shares to two entities wholly controlled by Chairman Xin Jin and Board Director Chang-Wei Chiu, respectively. The transaction closed on March 31, and the proceeds were settled in USDT. Second, the company signed a securities purchase agreement with the Hong Kong Stock Exchange-listed financial services group DL Holdings Group Limited (HKEX: 1709). It will issue a convertible note with a principal amount of $10 million and warrants for up to 370,370 Class A ordinary shares, with an exercise price of $2.70 per share. The company plans to use the proceeds for upstream acquisitions and the expansion of AI and computing infrastructure. In addition, the two parties simultaneously signed a memorandum of understanding. DL Holdings said it intends to jointly conduct strategic investments with Cango of up to $10 million in total. The investment focus includes crypto mining facilities and the artificial intelligence space. The related investments are still subject to due diligence and the signing of formal agreements.
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