Cango Inc. Achieves 12% Growth in Bitcoin Production for March 2025

Rhea-AI Summary

Cango Inc. (NYSE: CANG) reported strong Bitcoin mining performance for March 2025, with total production reaching 530.1 Bitcoins, marking a 12% increase from February's 472.7 Bitcoins. The company's daily Bitcoin production improved to 17.1 from 16.9 in February.

Key metrics include:

• Total Bitcoin holdings increased to 2,474.8 from 1,944.7 in February
• Deployed hashrate maintained at 32 EH/s
• Average operating hashrate improved to 30.3 EH/s from 29.7 EH/s

Positive

• 12% month-over-month increase in Bitcoin production (530.1 vs 472.7)
• Daily Bitcoin production improved to 17.1 from 16.9
• Bitcoin holdings grew by 530.1 to reach 2,474.8
• Operating hashrate improved to 30.3 EH/s from 29.7 EH/s

Negative

• None.

News Market Reaction

-7.69%

1 alert

-7.69% News Effect

On the day this news was published, CANG declined 7.69%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SHANGHAI, April 7, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a rapidly expanding leader in Bitcoin mining, announced its production update for its crypto mining business for March 2025, highlighting significant growth in Bitcoin production.

In March 2025, Cango produced a total of 530.1 Bitcoins, representing a 12% increase compared to 472.7 Bitcoins produced in February 2025. The average number of Bitcoins produced per day also rose to 17.1, up from 16.9 in the previous month.

As of the end of March, Cango holds a total of 2,474.8 Bitcoins, an increase from 1,944.7 Bitcoins at the end of February. The Company's deployed hashrate remained stable at 32 EH/s, while the average operating hashrate improved to 30.3 EH/s, up from 29.7 EH/s in February.

"We are pleased to report these positive results as we continue to enhance our operations in the growing cryptocurrency market," said Mr. Jiayuan Lin, Chief Executive Officer of Cango. "Our commitment to optimizing our mining capabilities is reflected in our production figures, and we look forward to further growth in the coming months."

Media Contact

Juliet Ye
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: ir@cangoonline.com 

View original content:https://www.prnewswire.com/news-releases/cango-inc-achieves-12-growth-in-bitcoin-production-for-march-2025-302421765.html

SOURCE Cango Inc.

FAQ

How many Bitcoins did Cango (CANG) produce in March 2025?

Cango produced 530.1 Bitcoins in March 2025, a 12% increase from 472.7 Bitcoins in February 2025.

What is Cango's (CANG) current Bitcoin holdings as of March 2025?

Cango holds 2,474.8 Bitcoins as of March 2025, up from 1,944.7 Bitcoins at the end of February 2025.

What is Cango's (CANG) current mining hashrate capacity?

Cango maintains a deployed hashrate of 32 EH/s with an average operating hashrate of 30.3 EH/s.

How much did Cango's (CANG) daily Bitcoin production increase in March 2025?

Daily Bitcoin production increased to 17.1 Bitcoins per day in March 2025, up from 16.9 Bitcoins in February 2025.