Cango secures $65M investment

Cango (CANG), a Bitcoin mining company listed on the New York Stock Exchange (NYSE), has secured a $65 million investment, The Block reported. The investment will be made through entities fully funded by Cango Chairman Xin Jin and Director Chang-Wei Chiu, which will acquire $65 million worth of the company's Class A common stock. The acquisition is set to be completed this month. Cango stated that it plans to use the investment to expand into the artificial intelligence and computing sectors.