Bitcoin mining is once again attracting large-scale financing. Mining company Cango Inc. recently announced it received a $10.5 million investment from Enduring Wealth Capital Limited (EWCL), subscribing to 7 million Class B common shares at $1.50 per share. After this financing, EWCL's stake in Cango will rise from approximately 2.81% to about 4.69%, and voting rights will increase from 36.68% to 49.61%, significantly enhancing its influence. Cango CEO Paul Yu revealed that the funds will mainly be used to strengthen the mining operation system—including improving hash rate efficiency, upgrading mining hardware configurations, and selectively acquiring high-quality mining assets. In terms of scale and use of funds, this reflects the mining company's ongoing investment in hash rate expansion and equipment optimization.

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MetaverseVagabondvip
· 10h ago
Damn, another round of funding frenzy, seasoned players really don't lack money
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StableBoivip
· 10h ago
The game of mining is getting bigger and bigger. The say-so has jumped from 36% directly to 49.61%, which is quite interesting.
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DefiPlaybookvip
· 11h ago
Once again, it's the classic big players entering the market, their influence skyrocketing, followed by "acquisition of quality assets" [dog head]. I'm all too familiar with this routine. $10.5 million sounds appealing, but the voting rights jump from 36% straight to 49%? Isn't this just laying the groundwork for upcoming decisions? Everyone, beware of dilution.
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HashRatePhilosophervip
· 11h ago
Another round of funding news, but this change in voting rights is quite interesting... EWCL jumped directly from 36.68% to 49.61%, just a little short of absolute control.
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SandwichTradervip
· 11h ago
Raising funds again? This pace is really picking up.
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