HONG KONG, June 27, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Firm”) immediately introduced that it has accomplished the beforehand introduced acquisitions of on-rack crypto mining machines with an combination hashrate of 18 Exahash per second via issuance of 146,670,925 Class A strange shares of the Firm to the sellers in proportion to the combination hashrate of the machines bought by every vendor (the “Share-Settled Transactions”).
The Firm introduced signing of the On-Rack Gross sales and Buy Settlement for the Share-Settled Transactions (the “Buy Settlement”) on November 6, 2024, and amendments to the Buy Settlement on March 26, 2025, April 3, 2025, June 4, 2025 and June 23, 2025. All closing situations for the Share-Settled Transactions had been glad or waived in accordance with the Buy Settlement, together with NYSE’s authorization of the Firm’s supplemental itemizing software with respect to the Class A strange shares issued on the closing of the Share-Settled Transactions, and the transactions had been closed on June 27, 2025.
With closing of the Share-Settled Transactions, Golden TechGen Restricted (“GT”), which is the biggest vendor within the Share-Settled Transactions, at the moment owns roughly 19.85% of the Firm’s whole excellent shares, and all of the sellers within the Share-Settled Transactions within the combination personal roughly 41.38% of the Firm’s whole excellent shares earlier than the issuance of any Bonus Shares or Adjustment Shares as described within the press launch issued by the Firm on June 4, 2025 saying the third modification to the Share-Settled Transactions.
The mining machines that the Firm purchases within the Share-Settled Transactions are at the moment in lively mining operation and hosted in knowledge facilities in a number of nations exterior China, with the bulk situated within the U.S. The Firm will proceed to host the machines of their present knowledge facilities and have engaged a service supplier to supply operational and upkeep companies for the machines after closing of the Share-Settled Transactions. The closing of the Share-Settled Transactions is predicted to additional assist the Firm in its enlargement and progress within the crypto asset house.
About Cango Inc.
Cango Inc. (NYSE: CANG) is primarily engaged within the Bitcoin mining enterprise, with operations strategically deployed throughout North America, the Center East, South America, and East Africa. The Firm entered the crypto asset house in November 2024, pushed by developments in blockchain expertise, the rising adoption of digital property, and its dedication to diversifying its enterprise portfolio. In parallel, Cango continues to function a web-based worldwide used automobile export enterprise via AutoCango.com, making it simpler for international prospects to entry high-quality car stock from China. For extra info, please go to: www.cangoonline.com.
Protected Harbor Assertion
This announcement incorporates forward-looking statements. These statements are made below the “secure harbor” provisions of the USA Personal Securities Litigation Reform Act of 1995. These forward-looking statements could be recognized by terminology reminiscent of “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and comparable statements. Cango might also make written or oral forward-looking statements in its periodic experiences to the SEC, in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or workers to 3rd events. Statements that aren’t historic information, together with statements about Cango’s beliefs and expectations, are forward-looking statements. Ahead-looking statements contain inherent dangers and uncertainties. Numerous components might trigger precise outcomes to vary materially from these contained in any forward-looking assertion, together with however not restricted to the next: the completion, modification or reversal of any transactions entered into, proposed or thought of by Cango; Cango’s purpose and techniques; Cango’s enlargement plans; Cango’s future enterprise growth, monetary situation and outcomes of operations; Cango’s expectations relating to demand for, and market acceptance of, its options and companies; Cango’s expectations relating to maintaining and strengthening its relationships with sellers, monetary establishments, automobile patrons and different platform individuals; common financial and enterprise situations; and assumptions underlying or associated to any of the foregoing. Additional info relating to these and different dangers is included in Cango’s filings with the SEC. All info offered on this press launch and within the attachments is as of the date of this press launch, and Cango doesn’t undertake any obligation to replace any forward-looking assertion, besides as required below relevant legislation.
Investor Relations Contact
Yihe Liu
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
E mail: ir@cangoonline.com
Helen Wu
Piacente Monetary Communications
Tel: +86 10 6508 0677
E mail: ir@cangoonline.com
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SOURCE Cango Inc.
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