Cango Inc. Announces April 2025 Production Update for Crypto Mining Business

Rhea-AI Summary

Cango Inc. (NYSE: CANG) has released its crypto mining production update for April 2025. The company produced 470.0 Bitcoins in April, down from 530.1 in March 2025, with daily production averaging 15.7 Bitcoins compared to 17.1 in the previous month. The company's total Bitcoin holdings increased to 2,944.8 by month-end, with no Bitcoins sold during the period. Cango maintained its deployed hashrate at 32 EH/s, while the average operating hashrate slightly decreased to 29.9 EH/s from 30.3 EH/s in March.

Positive

• Total Bitcoin holdings increased by 470 to 2,944.8 BTC
• Maintained strong deployed hashrate at 32 EH/s
• Company continues to hold all mined Bitcoin, showing confidence in crypto assets

Negative

• Bitcoin production decreased by 11.3% from 530.1 to 470.0 BTC month-over-month
• Daily Bitcoin production declined from 17.1 to 15.7 BTC
• Average operating hashrate slightly decreased from 30.3 EH/s to 29.9 EH/s

SHANGHAI, May 6, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company") today announced its production update for crypto mining business in April 2025.

Bitcoin Mining Update for April 2025

Metrics	Apr 2025 1	Mar 2025 1
Number of Bitcoins produced	470.0	530.1
Average number of Bitcoins produced per day	15.7	17.1
Total number of Bitcoins held 2	2,944.8	2,474.8
Total number of Bitcoins sold 2	-	-
Deployed hashrate 2	32 EH/s	32 EH/s
Average operating hashrate 3	29.9 EH/s	30.3 EH/s

1.  Unaudited, estimated.

2.  As of month-end.

3.  Average over the month.

About Cango Inc.

Cango Inc. (NYSE: CANG) primarily operates a leading Bitcoin mining business. Cango has deployed its mining operation across strategic locations including North America, Middle East, South America, and East Africa. Cango expanded into the crypto assets market in November 2024, driven by the development in blockchain technology, increasing prevalence of crypto assets and its endeavor to diversify its business. Meanwhile, Cango has continued to operate the automotive transaction service in China since 2010, aiming to make car purchases simple and enjoyable. For more information, please visit: www.cangoonline.com. 

Investor Relations Contact

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

Helen Wu
Piacente Financial Communications
Tel: +86 10 6508 0677
Email: ir@cangoonline.com

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SOURCE Cango Inc.

FAQ

How many Bitcoins did Cango (CANG) mine in April 2025?

Cango mined 470.0 Bitcoins in April 2025, with an average daily production of 15.7 Bitcoins.

What is Cango's (CANG) total Bitcoin holdings as of April 2025?

Cango held 2,944.8 Bitcoins as of the end of April 2025.

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

Cango maintained a deployed hashrate of 32 EH/s with an average operating hashrate of 29.9 EH/s in April 2025.

How did Cango's (CANG) Bitcoin production change from March to April 2025?

Cango's Bitcoin production decreased from 530.1 BTC in March to 470.0 BTC in April 2025, representing an 11.3% decline.

Did Cango (CANG) sell any Bitcoin in April 2025?

No, Cango did not sell any Bitcoin during April 2025, continuing to hold all mined coins.