New York Stock Exchange listed company Cango has disclosed receiving a takeover offer from Enduring Wealth Capital Limited.

On March 16th, as per a report from PR Newswire, the New York Stock Exchange-listed company Cango disclosed that it has received a preliminary non-binding letter of intent from Enduring Wealth Capital Limited (EWCL). This letter is intended to acquire 10 million shares of Class B common stock from the company's co-founder at a mutually agreed purchase price. Furthermore, the letter of intent also mandates that the Cango founders voluntarily convert all the remaining Class B common shares they hold into Class A common shares and resign from the board and executive positions. BlockBeats had previously reported that Cango, a NYSE-listed automobile trading service provider, holds a total of 1,944 Bitcoins. In November 2024, Cango entered the Bitcoin mining field by investing $400 million to acquire a hash rate of 50 EH/s, promptly becoming one of the largest miners in the world, providing approximately 6% of Bitcoin's network hash rate. For reference, the world's largest publicly traded mining company, MARA Holdings (MARA), has a hash rate slightly exceeding 47 EH/s, while the second-largest, CleanSpark (CLSK), and Riot Blockchain (RIOT), have hash rates of 32 EH/s and 26 EH/s respectively.