Cango Inc surged 18.11% in pre-market trading after securing 10.5 million funding from EWCL

Cango Inc. surged 18.11% in pre-market trading on January 2, 2026, signaling strong investor confidence following a pivotal development. The cryptocurrency miner secured $10.5 million in funding from EWCL, a move analysts say has repositioned the stock as "severely undervalued" in the sector. This capital infusion, coupled with renewed interest in mining infrastructure, appears to have triggered a sharp reversal in market sentiment.

The pre-market rally suggests investors are recalibrating their risk appetite for mining equities after months of underperformance. With EWCL's backing, Cango now has critical liquidity to expand its operational capacity at a time when energy-efficient mining solutions are gaining institutional traction.

. The funding round also highlights growing institutional recognition of the company's technical capabilities in blockchain infrastructure, a factor that could drive further valuation re-rating.

Analysts note the timing of the funding coincides with broader market optimism around cryptocurrency adoption, though caution that regulatory uncertainties remain a near-term headwind. The sharp price move reflects a combination of fundamental upgrades and speculative positioning, with the 18% gain representing one of the most significant pre-market swings for a mining stock in recent months.

While the move has drawn considerable attention, some experts argue that the broader mining sector remains under pressure from macroeconomic conditions, including rising interest rates and reduced venture capital flows. However, the influx of institutional support for Cango could signal a broader shift in how market participants value specialized mining infrastructure. This change may also influence how public investors perceive the company's long-term strategic value.

Going forward, investors are likely to monitor how effectively Cango leverages its new capital to scale operations and meet evolving technical standards in the industry. The stock's recent volatility underscores the sector's sensitivity to both macroeconomic and regulatory developments, making it a complex but potentially rewarding investment.