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

Rhea-AI Summary

Cango Inc. (NYSE: CANG) released its crypto mining production update for May 2025, showing strong operational performance. The company produced 484.5 Bitcoins in May, up from 470.0 in April, with a daily average production of 15.63 Bitcoins. Cango's total Bitcoin holdings increased to 3,429.3 by month-end, compared to 2,944.8 in April, with no Bitcoins sold during the period. The company maintained a deployed hashrate of 32 EH/s, with an average operating hashrate of 29.86 EH/s in May, slightly down from 29.94 EH/s in April.

Positive

• Bitcoin production increased by 3.1% from 470.0 in April to 484.5 in May 2025
• Total Bitcoin holdings grew significantly to 3,429.3, showing strong accumulation strategy
• Company maintained robust deployed hashrate of 32 EH/s
• No Bitcoin sales indicates confidence in holding strategy

Negative

• Slight decrease in average operating hashrate from 29.94 EH/s to 29.86 EH/s
• Daily Bitcoin production decreased marginally from 15.67 to 15.63

News Market Reaction

+4.01%

1 alert

+4.01% News Effect

On the day this news was published, CANG gained 4.01%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

HONG KONG, June 3, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company") today announced its production update for crypto mining business in May 2025.

Bitcoin Mining Update for May 2025

Metrics	May 2025 1	Apr 2025 1
Number of Bitcoins produced	484.5	470.0
Average number of Bitcoins produced per day	15.63	15.67
Total number of Bitcoins held 2	3,429.3	2,944.8
Total number of Bitcoins sold 2	-	-
Deployed hashrate 2	32 EH/s	32 EH/s
Average operating hashrate 3	29.86 EH/s	29.94 EH/s
1.  Unaudited, estimated.
2.  As of month-end.
3.  Average over the month.

About Cango Inc.

Cango Inc. (NYSE: CANG) is primarily engaged in the Bitcoin mining business, with operations strategically deployed across North America, the Middle East, South America, and East Africa. The Company entered the crypto asset space in November 2024, driven by advancements in blockchain technology, the growing adoption of digital assets, and its commitment to diversifying its business portfolio. In parallel, Cango continues to operate an online international used car export business through AutoCango.com, making it easier for global customers to access high-quality vehicle inventory from China. 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 May 2025?

Cango mined 484.5 Bitcoins in May 2025, with an average daily production of 15.63 Bitcoins.

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

Cango held 3,429.3 Bitcoins as of the end of May 2025.

What is Cango's (CANG) deployed hashrate for Bitcoin mining?

Cango maintained a deployed hashrate of 32 EH/s with an average operating hashrate of 29.86 EH/s in May 2025.

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

Cango's Bitcoin production increased from 470.0 in April to 484.5 in May 2025, representing a 3.1% increase.

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

No, Cango did not sell any Bitcoin during May 2025, maintaining its holding strategy.