Cango closes $75M financing to scale Ecohash AI computing and energy buildout

Cango Inc. closed a $65 million insider equity placement on March 31, 2026, and completed a $10 million convertible note on April 1, 2026, for a combined raise of about $75 million. The company said the proceeds will support acquisitions and AI computing infrastructure under its Ecohash unit, alongside integrated energy and distributed AI inference pilots. Cango shares traded at $0.40 on April 1, down 5.18% on the day, after falling 73.65% year-to-date.