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

Rhea-AI Summary

Cango Inc. (NYSE: CANG), an automotive transaction service platform in China, released its February 2025 crypto mining production update. The press release lacks specific production metrics, mining capacity details, or any concrete operational data about their Bitcoin mining activities for the period.

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-0.93% News Effect

On the day this news was published, CANG declined 0.93%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

SHANGHAI, March 3, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading automotive transaction service platform in China, today announced its production update for crypto mining business in February 2025.

Bitcoin Mining Update for February 2025

Metrics	Feb 2025 1	Jan 2025 1
Number of Bitcoins produced	472.7	538.2
Average number of Bitcoins produced per day	16.9	17.4
Total number of Bitcoins held 2	1,944.7	1,472.0
Total number of Bitcoins sold 2	-	-
Deployed hashrate 2	32 EH/s	32 EH/s
Average operating hashrate 3	29.7 EH/s	30.1 EH/s

1.  Unaudited, estimated.
2.  As of month-end.
3.  Average over the month.

About Cango Inc.

Cango Inc. (NYSE: CANG) is a leading automotive transaction service platform in China, connecting car buyers, dealers, financial institutions, and other industry participants. Founded in 2010 by a group of pioneers in China's automotive finance industry, the Company is headquartered in Shanghai and has a nationwide network. Leveraging its competitive advantages in technological innovation and big data, Cango has established an automotive supply chain ecosystem, and developed a matrix of products and services centering on used car trading and exporting. By working with platform participants, Cango endeavors to make car purchases simple and enjoyable, and make itself customers' car purchase service platform of choice. In recent years, Cango has diversified its business operations and expanded its operation into other industries, such as overseas crypto assets. 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

View original content:https://www.prnewswire.com/news-releases/cango-inc-announces-february-2025-production-update-for-crypto-mining-business-302389881.html

SOURCE Cango Inc.

FAQ

What was CANG's Bitcoin mining production in February 2025?

The press release did not disclose specific Bitcoin mining production figures for February 2025.

How has CANG expanded its business from automotive services to crypto mining?

While CANG has added crypto mining to its business portfolio, the press release doesn't provide details about this business transition.

What is the current mining capacity of Cango (CANG)?

The press release does not specify CANG's current mining capacity or operational metrics.

When did CANG enter the Bitcoin mining business?

The press release does not indicate when CANG initiated its Bitcoin mining operations.