Core Viewpoint - Cango Inc. has successfully completed the acquisition of on-rack crypto mining machines with a total hashrate of 18 Exahash per second, issuing 146,670,925 Class A ordinary shares to the sellers as part of the Share-Settled Transactions [1][2]. Group 1: Acquisition Details - The On-Rack Sales and Purchase Agreement for the Share-Settled Transactions was signed on November 6, 2024, with several amendments made leading up to the closing on June 27, 2025 [2]. - All closing conditions for the Share-Settled Transactions were satisfied or waived, including the NYSE's authorization for the supplemental listing application regarding the Class A ordinary shares [2]. Group 2: Ownership Structure - Following the completion of the Share-Settled Transactions, Golden TechGen Limited, the largest seller, now owns approximately 19.85% of Cango's total outstanding shares, while all sellers collectively own about 41.38% of the total outstanding shares before any Bonus Shares or Adjustment Shares are issued [3]. Group 3: Operational Aspects - The acquired mining machines are currently operational and located in data centers across several countries, predominantly in the U.S. Cango will continue to host these machines and has engaged a service provider for operational and maintenance services [4]. - The completion of these transactions is expected to bolster Cango's expansion and growth within the crypto asset sector [4]. Group 4: Company Overview - Cango Inc. is primarily focused on Bitcoin mining, with operations strategically located in North America, the Middle East, South America, and East Africa. The company entered the crypto asset space in November 2024, motivated by advancements in blockchain technology and the increasing adoption of digital assets [5].

Core Viewpoint - Cango Inc. has entered into the fourth amendment of its Purchase Agreement for acquiring on-rack crypto mining machines, which will be settled through the issuance of Class A ordinary shares to the sellers, with a total hashrate of 18 Exahash per second [1][2]. Group 1: Purchase Agreement Details - The Purchase Agreement was initially signed on November 6, 2024, with subsequent amendments on March 26, April 3, and June 4, 2025 [2]. - The Fourth Amendment modifies the hashrate distribution among sellers, including Golden TechGen Limited, Fortune Peak Limited, and Silver Crest Limited, and adjusts the corresponding Class A ordinary shares to be issued [2]. - Upon closing, Golden TechGen Limited is expected to own approximately 19.85% of Cango's total outstanding shares [2]. Group 2: Closing Conditions - The closing of the Share-Settled Transactions is contingent upon certain conditions that must be satisfied or waived, and the company is actively working towards meeting these conditions [3]. Group 3: Company Overview - Cango Inc. is primarily engaged in Bitcoin mining, with operations across North America, the Middle East, South America, and East Africa, having entered the crypto asset space in November 2024 [4]. - The company also operates an online international used car export business through AutoCango.com, facilitating access to high-quality vehicle inventory from China [4].

HONG KONG, June 4, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company") today announced that it has entered into the third amendment (the "Third Amendment") to the On-Rack Sales and Purchase Agreement (the "Purchase Agreement") dated November 6, 2024 for the acquisitions of on-rack crypto mining machines with an aggregate hashrate of 18 Exahash per second through issuance of Class A ordinary shares of the Company to the sellers (the "Share-Settled Transactions").The Company announced sign ...

HONG KONG, June 2, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company") today announced that the Company's co-founders, Mr. Xiaojun Zhang and Mr. Jiayuan Lin (collectively, the "Founders") and their holding companies (the "Sellers") have entered into a securities purchase agreement (the "Agreement") with Enduring Wealth Capital Limited, a company established in the British Virgin Islands ("EWCL"), pursuant to which the Sellers will sell an aggregate of 10,000,000 Class B ordinary shares o ...