Cango's Reverse Split
Cango, a NYSE Bitcoin Miner, Implements 10-for-1 Reverse Stock Split to Maintain Listing
Key Points
Pre-split Class A shares were 92,067,428 and Class B shares were 7,932,572; after a 10-for-1 reverse split, rounding down yields 9,206,742 Class A and 793,257 Class B, for a total of 9,999,999 post-split shares, with the remaining 1 share canceled back to the authorized pool.
Post-split shares will have a new CUSIP: G1820C 110.
Authorized capital remains US$100,000, divided into 100,000,000 ordinary shares (Class A and Class B combined).
The exact timing of the effective date is reported differently by outlets: 9:00 p.m. UTC on July 20 (Article 1) versus 5:00 p.m. ET on July 20 (Article 5), with split-adjusted trading expected to begin July 21.
Cango operates across multiple regions (North America, the Middle East, South America and East Africa) and also runs AutoCango.com, illustrating diversification beyond pure crypto mining alongside investor sentiment discussed by analysts.
Cango Inc. (NYSE: CANG), a Bitcoin mining company, has set July 20, 2026 as the effective date for a 10-for-1 reverse stock split of its Class A and Class B ordinary shares, with split-adjusted trading beginning July 21 under the same ticker symbol, according to Crypto News. The move will slash the total share count from roughly 100 million to just under 10 million shares.
The consolidation was approved by shareholders at an extraordinary meeting on June 24, 2026. Blockspace reported the split is driven in part by an NYSE price deficiency notice — meaning Cango's stock price had fallen below the exchange's minimum listing requirements.
Share Count Drops from 100 Million to Under 10 Million
Before the split, Cango held 92,067,428 Class A shares and 7,932,572 Class B shares — totaling exactly 100 million shares. After every 10 shares are combined into one, that becomes 9,206,742 Class A shares and 793,257 Class B shares, per Yahoo Finance. That adds up to 9,999,999 post-split shares. The leftover fractional share gets canceled back into the authorized pool.
No fractional shares will be issued to investors. Any fractions get rounded down and canceled. The post-split shares will carry a new CUSIP number: G1820C 110. The company's total authorized capital stays fixed at US$100,000, divided among 100 million ordinary shares, according to Blockspace.
NYSE Listing Rules Pushed Cango to Act
A reverse stock split is often used to lift a company's per-share price without changing its total value. When a stock trades too low for too long, exchanges like the NYSE can delist it. Guru Focus noted that this kind of consolidation is a common tool companies use to meet exchange price minimums and stay listed.
Cango's move fits that pattern. The company received an NYSE price deficiency notice before announcing the split, according to Yahoo Finance. By reducing share count tenfold, the per-share price should rise proportionally — though total market value stays the same. A stock at $1 with 100 million shares becomes a stock near $10 with 10 million shares.
Timing Details Differ Slightly Across Reports
Most sources agree that July 20 is the effective date and July 21 is when split-adjusted trading begins. But the exact hour differs. Yahoo Finance listed the effective time as 9:00 p.m. UTC on July 20. Seeking Alpha reported it as 5:00 p.m. ET on July 20. Both times translate to the same moment — 9:00 p.m. UTC equals 5:00 p.m. ET — so the difference is just in how each outlet expressed it.
Cango's Operations Stretch Far Beyond Bitcoin Mining
Cango is not a pure-play mining company. It runs operations across North America, the Middle East, South America, and East Africa, according to Crypto News. It also operates AutoCango.com, an automotive marketplace, showing the company has roots outside the crypto sector.
That diversification matters because Bitcoin mining is a capital-heavy, volatile business. Crypto prices can swing wildly, squeezing profits and stock prices alike. The reverse split does not change Cango's underlying business value. But it may help the company hold its NYSE listing — and stay visible to institutional investors who avoid low-priced stocks.
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