Cango Inc. shareholders approved a share consolidation ratio of up to 10:1 at an extraordinary general meeting held on June 24, 2026. The approval grants the Board of Directors the discretion to consolidate authorized share capital, comprising both issued and unissued Class A and Class B ordinary shares, within a range of no consolidation to a maximum ratio of 10:1. The Board must execute any consolidation within 15 days of the EGM.

The resolutions passed include an ordinary resolution for the share consolidation and a special resolution to adopt the fifth amended and restated memorandum and articles of association. The amended documents, attached as Annex A to the Proxy Statement furnished to the Securities and Exchange Commission (SEC) in a current report on Form 6-K on May 22, 2026, will reflect the share consolidation effective from the determined date.

The Board of Directors has not yet decided whether to proceed with the share consolidation, the final consolidation ratio, or the effective date. Cango Inc. stated that it will make a further announcement once the Board has made these determinations. No fractional shares will be issued; any fractional entitlement will be rounded down to the next whole share, with canceled fractions returned to the authorized but unissued share capital pool without consideration.

Cango Inc. is a Bitcoin mining company with operations spanning North America, the Middle East, South America, and East Africa. Since entering the digital asset space in November 2024, the company has activated pilot projects in integrated energy solutions and distributed AI computing. Cango also operates an online international used car export business through AutoCango.com.

The full text of each resolution is available on the company's website at ir.cangoonline.com and was included in the notice of the EGM and proxy statement furnished to the SEC on May 22, 2026.

Cango Inc. reported a total operational hashrate of 31.67 EH/s as of May 31, 2026, alongside a monthly Bitcoin production of 237.59 BTC. The company's self-mining operations contributed 236.5 BTC to the total output, while its Bitcoin holdings stood at 1,065.11 BTC at the end of May. Cango is a Bitcoin mining company leveraging global operations to develop an integrated energy and AI compute platform.

Operational Hashrate Composition

The company's hashrate was divided between self-mining and hashrate leasing. Self-mining accounted for 23.32 EH/s, while hashrate leasing contributed 8.35 EH/s, bringing the total to 31.67 EH/s.

Bitcoin Production and Holdings

In May 2026, Cango's average daily Bitcoin production was 7.6 BTC. The majority of the production came from self-mining, with 236.5 BTC generated. Total Bitcoin holdings as of May 31, 2026, were 1,065.11 BTC.

Cango's mining operations span across North America, the Middle East, South America, and East Africa. Since entering the digital asset space in November 2024, the company has activated pilot projects in integrated energy solutions and distributed AI computing.