Cango Inc Stock Price, News & Analysis

Cango Inc. (NYSE: CANG), a company focused on Bitcoin mining operations across multiple global locations and international used car exports, has scheduled its second quarter 2025 financial results release for September 4, 2025, after market close.

The company will host a conference call to discuss the results on September 4, 2025, at 9:00 P.M. Eastern Time (September 5, 2025, at 9:00 A.M. Hong Kong Time). The earnings release and webcast will be available on the company's investor relations website, with a replay accessible through September 11, 2025.

Cango Inc. (NYSE:CANG) reported strong Bitcoin mining performance for August 2025, producing 663.7 Bitcoins, up from 650.5 in July. The company's daily Bitcoin production averaged 21.41 BTC, with total Bitcoin holdings reaching 5,193.4.

The company maintained its 50 EH/s deployed hashrate, while average operating hashrate improved by 6.9% month-over-month to 43.74 EH/s. Cango recently acquired a 50 MW Bitcoin mining facility in Georgia, USA, and continues to focus on fleet efficiency improvements and long-term Bitcoin holding strategy.

Cango Inc. (NYSE: CANG) has acquired a 50 MW Bitcoin mining facility in Georgia, USA for $19.5 million in cash. The facility, which previously hosted Cango's miners under a third-party agreement, will now allocate 30 MW for self-mining operations and 20 MW for third-party hosting services.

This strategic acquisition marks Cango's first step in building a portfolio of owned mining facilities, focusing on vertical integration and operational efficiency. The company plans to leverage this infrastructure to develop in-house expertise and gradually expand into providing energy solutions for high-performance computing (HPC) applications beyond Bitcoin mining.

Cango Inc. (NYSE: CANG) reported strong Bitcoin mining performance for July 2025, with production reaching 650.5 Bitcoin, a 45% increase from June's 450.0 Bitcoin. The company achieved an average daily production of 20.99 Bitcoin and increased its total Bitcoin holdings to 4,529.7.

The company's deployed hashrate expanded to 50 EH/s in July, up from 32 EH/s in June, with an average operating hashrate of 40.91 EH/s. CEO Paul Yu highlighted the addition of 18 EH/s at June's end and announced plans for vertical integration and diversification of mining sites and energy infrastructure.

Cango Inc. (NYSE: CANG) has completed its transformation into a global Bitcoin mining company with significant leadership changes. The company appointed Xin Jin as Chairman, Peng Yu as CEO, and several other key executives with expertise in digital assets and finance.

The transformation includes a secondary sale where co-founders sold 10 million Class B shares for US$70 million to Enduring Wealth Capital Limited. The company has already deployed 50 EH/s of mining capacity and holds a treasury of over 4,000 Bitcoins. Following the transaction, Enduring Wealth Capital now controls 36.73% voting power, while former co-founders retain 12.07%.

Cango (NYSE:CANG) announced the successful passage of all resolutions at its second extraordinary general meeting on July 17, 2025. The key approvals include a Securities Purchase Agreement for US$70 million, involving the secondary sale of 10 million Class B ordinary shares from co-founders to Enduring Wealth Capital Limited.

The resolutions received overwhelming support, with over 99.3% approval from total votes cast and more than 81% approval from non-affiliate shareholders. The company also received authorization to increase its share capital and adopt the Fourth Amended and Restated Memorandum and Articles of Association. The Secondary Sale is expected to close around July 22, 2025, subject to conditions.

Cango Inc. (NYSE: CANG) released its June 2025 crypto mining production update, reporting the production of 450.0 Bitcoins during the month, compared to 484.5 Bitcoins in May 2025. The company maintained a daily average production of 15.00 Bitcoins, slightly down from 15.63 in May.

The company's total Bitcoin holdings reached 3,879.2 by the end of June, up from 3,429.3 in May. Cango's deployed hashrate remained stable at 32 EH/s with an average operating hashrate of 29.92 EH/s.

Additionally, Cango completed its previously announced acquisition of crypto mining machines with 18 EH/s hashrate capacity on June 27, 2025, increasing the company's total hashrate to 50 EH/s.

Cango (NYSE:CANG) has completed its previously announced acquisition of crypto mining machines with a total hashrate of 18 Exahash per second through the issuance of 146,670,925 Class A ordinary shares. The transaction, which closed on June 27, 2025, resulted in Golden TechGen Limited becoming a significant shareholder with 19.85% ownership, while all sellers collectively now own 41.38% of Cango's total outstanding shares.

The acquired mining machines are currently operational in data centers outside China, primarily in the U.S. Cango will maintain the existing hosting arrangements and has engaged a service provider for operational and maintenance services. This acquisition marks a significant step in Cango's expansion into the crypto asset space.

Cango Inc. (NYSE: CANG) has announced a fourth amendment to its November 2024 Purchase Agreement for acquiring crypto mining machines with 18 Exahash/second capacity through share issuance. The amendment modifies the hashrate distribution and corresponding Class A ordinary share allocation among sellers, including Golden TechGen Limited, Fortune Peak Limited, and Silver Crest Limited. Upon closing, Golden TechGen Limited will become the largest shareholder with approximately 19.85% ownership. The total hashrate (18 Exahash/s), total shares to be issued at closing, and potential bonus shares remain unchanged. The transaction's completion depends on satisfying certain closing conditions, with no guarantee of completion by the stipulated date.