Cango Inc, a prominent Bitcoin mining company with global operations and a strategic focus on building an integrated energy and AI computing platform, announced that Enduring Wealth Capital Limited (“EWCL”) has expanded its investment in the Company through a commitment of US$10.5 million. As part of the transaction, EWCL will acquire additional Class B ordinary shares at a price of US$1.50 per share, paid in cash. The investment reflects a shared long-term vision for Cango’s growth and provides meaningful funding to advance its key business initiatives.

Key terms of the transaction include:

Paul Yu, Chief Executive Officer and Director of Cango, stated that the additional capital represents strong validation of the Company’s strategic direction. He noted that deeper alignment with a major shareholder who closely understands Cango’s long-term objectives enhances the Company’s ability to execute its plans with confidence. Looking ahead to 2026,

Cango plans to further scale its Bitcoin mining operations by improving hashrate efficiency, modernizing its mining equipment, and pursuing targeted acquisitions of high-quality mining assets. In parallel, the Company intends to continue developing its energy and AI computing initiatives, exploring complementary investment opportunities to support its ambition of building a globally integrated infrastructure platform for the digital economy.

Completion of the investment remains subject to standard closing conditions, including approval from the New York Stock Exchange. The Company anticipates finalizing the transaction in January 2026. The additional funding is expected to reinforce Cango’s strategic execution and enable the rollout of priority initiatives in the coming year.

Covia Holdings LLC has launched a cutting-edge laboratory facility in Concord, North Carolina, aimed at enhancing its innovation network. This new center features modular lab areas, collaborative meeting rooms, and office space, and is intended to be a central location for customer collaboration and new product development.

Bruno Biasiotta, Covia’s President and CEO, emphasized that the new center underscores the company’s dedication to innovation and customer focus, which aligns with Covia’s core value of fostering growth. “Driving growth by delivering value to our customers is at the heart of our mission to be a leading provider of mineral-based solutions,” he stated.

Spanning approximately 20,000 square feet, the facility was thoughtfully designed by Covia’s technical team to be modular and adaptable, allowing it to meet the shifting demands of the industries it serves. The center supports not only mineral processing but also research and testing for sectors such as coatings, polymers, engineered stone, and sports and recreation.

Its open lab layout provides room for future expansion, including the addition of workstations and specialized equipment. The office space is designed to accommodate over 30 team members, while the meeting rooms foster collaboration and engagement with clients.

“This facility in Concord marks a major milestone in our innovation strategy,” Biasiotta added. “It enhances our ability to develop forward-thinking solutions and extend our capabilities across our laboratory and production operations.”