Cango Inc. completes $65 million strategic financing and secures $10 million in convertible note financing

2026-04-01 21:07:05

Golden Finance reports that Bitcoin miner Cango Inc. announced that on April 1, 2026, the company completed two important capital transactions: it received $65 million in strategic financing from members of the company’s leadership team, and it entered into a $10 million convertible note financing agreement with DL Holdings Group Limited.
In addition, Cango entered into a securities purchase agreement with DL Holdings, issuing $10 million in convertible notes and related warrants, which may be used to purchase up to 370,370 shares of Class A common stock at a price of $2.70 per share; specific terms need to be adjusted. Cango plans to use the proceeds from the note issuance for its potential upstream acquisitions and to support its expansion in AI and compute infrastructure.

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