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

Rhea-AI Summary

Cango Inc. (NYSE: CANG) has released its crypto mining production update for March 2025. The company demonstrated improved Bitcoin production metrics, mining 530.1 Bitcoins in March compared to 472.7 in February 2025. The daily Bitcoin production rate increased to 17.1 Bitcoins from 16.9 in the previous month.

The company maintained its deployed hashrate at 32 EH/s, while the average operating hashrate slightly improved to 30.3 EH/s from 29.7 EH/s in February. By the end of March, Cango's total Bitcoin holdings reached 2,474.8 Bitcoins, up from 1,944.7 in February, with no Bitcoins sold during this period.

Positive

• Bitcoin production increased 12.1% MoM to 530.1 BTC
• Daily Bitcoin production improved to 17.1 BTC from 16.9 BTC
• Bitcoin holdings grew by 530.1 BTC to 2,474.8 BTC
• Average operating hashrate improved to 30.3 EH/s from 29.7 EH/s

Negative

• No Bitcoin sales recorded, potentially indicating missed profit-taking opportunities

SHANGHAI, April 1, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company") today announced its production update for crypto mining business in March 2025.

Bitcoin Mining Update for March 2025

Metrics	Mar 2025 1	Feb 2025 1
Number of Bitcoins produced	530.1	472.7
Average number of Bitcoins produced per day	17.1	16.9
Total number of Bitcoins held 2	2,474.8	1,944.7
Total number of Bitcoins sold 2	-	-
Deployed hashrate 2	32 EH/s	32 EH/s
Average operating hashrate 3	30.3 EH/s	29.7 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

View original content:https://www.prnewswire.com/news-releases/cango-inc-announces-march-2025-production-update-for-crypto-mining-business-302416854.html

SOURCE Cango Inc.

FAQ

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

Cango mined 530.1 Bitcoins in March 2025, with an average daily production of 17.1 Bitcoins.

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

Cango held 2,474.8 Bitcoins as of March 31, 2025.

How much did CANG's Bitcoin production increase from February to March 2025?

Production increased by 57.4 Bitcoins, from 472.7 in February to 530.1 in March 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 in March 2025.