Cango Inc.

We began operations in August 2010 through Shanghai Cango in China. Our business initially focused on providing automotive financing solutions to car buyers by connecting them to dealers and financial institutions through Cango platform. Over time, we extended our offerings to include automobile trading solutions and after-market services. In October 2017, we incorporated Cango Inc. under the laws of the Cayman Islands, as our ultimate holding company. 37 Table of Contents In November 2024, we diversified our business operations and expanded into the crypto mining industry by announcing a landmark acquisition of crypto mining assets located outside of China with an aggregate hashrate of 50 EH. During the same month, we successfully completed the first phase of this transaction, acquiring 32 EH of hashrate for US$256 million in cash. On May 27, 2025, we completed the sale of all of our business in the PRC (the PRC Business ), including our remaining PRC based auto related activities, as part of our strategic transition away from the automotive sector in the PRC. We accounted for the PRC Business as discontinued operations as a result of our disposal of such PRC Business. For details, see Discontinued Operations and Basis of Presentation. Following the disposal of our PRC Business, we have pivoted our strategic focus toward digital assets and computing infrastructure. In June 2025, we completed the remaining portion of our previously announced acquisition of crypto mining machines with an aggregate hashrate of 18 EH through the issuance of 146,670,925 Class A ordinary shares.