Cango Inc. Announces November 2025 Bitcoin Production and Mining Operations Update

Rhea-AI Summary

Cango (NYSE: CANG) published its November 2025 Bitcoin production and mining operations update on December 5, 2025. Key monthly metrics: 546.7 BTC produced in November versus 602.6 BTC in October, an average daily production of 18.22 BTC, and 6,959.3 BTC held at month-end. Deployed hashrate remained at 50 EH/s while average operating hashrate was 44.38 EH/s for the month.

The company reiterated that its Bitcoin holdings are long-term and it does not currently intend to sell. Management noted completion of the transition to the New York Stock Exchange following termination of the ADR program and framed the business strategy as evolving toward a global, distributed AI compute network powered by green energy.

Positive

• 6,959.3 BTC held at month-end
• Deployed hashrate steady at 50 EH/s
• Completed transition to the New York Stock Exchange

Negative

• November production fell to 546.7 BTC from 602.6 BTC in October
• Average operating hashrate declined to 44.38 EH/s from 46.09 EH/s

Key Figures

BTC produced (Nov 2025) 546.7 BTC Monthly bitcoin production in November 2025

BTC produced (Oct 2025) 602.6 BTC Monthly bitcoin production in October 2025

Avg BTC/day (Nov 2025) 18.22 BTC/day Average daily bitcoin production in November 2025

Avg BTC/day (Oct 2025) 19.44 BTC/day Average daily bitcoin production in October 2025

Total BTC held (Nov 2025) 6,959.3 BTC Bitcoin holdings at November 2025 month-end

Total BTC held (Oct 2025) 6,412.6 BTC Bitcoin holdings at October 2025 month-end

Deployed hashrate 50 EH/s Deployed hashrate for October and November 2025

Avg operating hashrate (Nov 2025) 44.38 EH/s Average operating hashrate over November 2025

Market Reality Check

$1.29 Last Close

Volume Volume 968,888 vs 20-day average 722,265 (relative volume 1.34x). normal

Technical Price $1.29 is trading below the $4.17 200-day moving average and far below the $9.66 52-week high.

Peers on Argus

Several related Financial Services/crypto-exposed peers show gains today (e.g., CNCK +8.08%, FUFU +2.58%, HIVE +2.60%), while CANG was up 1.57% ahead of this update. Scanner data does not flag a coordinated sector momentum move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 02	Q3 2025 earnings	Positive	-9.7%	Strong Q3 revenue, profit, and mining metrics with detailed cost disclosures.
Dec 01	Q3 2025 earnings	Positive	-3.3%	Unaudited Q3 results highlighting mining-driven revenue growth and profitability.
Nov 25	Earnings date notice	Neutral	+0.0%	Announcement of date and logistics for upcoming Q3 2025 results release.
Nov 17	NYSE direct listing	Positive	-46.9%	Class A shares begin NYSE trading after ADR termination with no dilution.
Nov 06	Shareholder letter	Positive	-3.7%	One-year pivot update emphasizing 50 EH/s platform and growing BTC holdings.

Pattern Detected

Recent positive operational and listing news has often coincided with negative price reactions, suggesting a pattern of selling into good news.

Recent Company History

Over the last six months, Cango has pivoted firmly into Bitcoin mining, scaling from 32 EH/s to 50 EH/s deployed hashrate and growing holdings to about 6,400 BTC by late October 2025. Earnings releases on Dec 1–2, 2025 showed strong Q3 revenue, profitability, and mining metrics but were followed by share price declines. The direct NYSE listing on Nov 17, 2025 and the shareholder letter detailing the transformation also saw negative reactions, underscoring a recent divergence between operational progress and stock performance. Today’s November mining update continues that operational narrative.

Market Pulse Summary

This announcement updates Cango’s Bitcoin mining profile, showing November 2025 production of 546.7 BTC, average 18.22 BTC/day, and total holdings of 6,959.3 BTC, with deployed hashrate steady at 50 EH/s. The company reiterates a long-term BTC holding strategy and emphasizes progress since its strategic pivot and NYSE transition. Investors may track month-to-month production trends, operating hashrate efficiency, and any evolution toward the stated AI compute ambitions.

Key Terms

hashrate technical

"Since expanding our deployed hashrate from 32 EH/s to 50 EH/s earlier this year..."

Hashrate is a measure of how quickly a computer network can process and verify transactions, often expressed as the number of calculations it can perform in a second. Think of it like the engine power of a car; the higher the hashrate, the more work the network can do in a given time. For investors, a higher hashrate generally indicates a more secure and robust network, which can influence confidence and the value of related digital assets.

AI-generated analysis. Not financial advice.

DALLAS, Dec. 5, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company") today published its Bitcoin production and mining operations update for November 2025.

Bitcoin Mining Production and Mining Operations Update for November 2025

Metric	November 2025 [1]	October 2025 [1]
Number of Bitcoin produced	546.7	602.6
Average number of Bitcoin produced per day	18.22	19.44
Total number of Bitcoin held [2]	6,959.3	6,412.6
Deployed hashrate	50 EH/s	50 EH/s
Average operating hashrate [3]	44.38 EH/s	46.09 EH/s

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

Note: Cango holds Bitcoin for the long term and does not currently intend to sell any of its Bitcoin holdings.

Paul Yu, CEO and Director of Cango, commented, "November marked the one-year milestone of our strategic transformation, and it was a month that demonstrated both our progress and our direction. Since expanding our deployed hashrate from 32 EH/s to 50 EH/s earlier this year, we have steadily optimized our operations to achieve average operating hashrate levels of around 90%, and closed the month with 6,959.3 BTC in holdings. We also completed our transition to the New York Stock Exchange following the termination of our ADR program, allowing for direct share ownership and opening a new chapter of visibility and alignment in the U.S. market. These achievements strengthen our foundation and advance our long-term vision to evolve from a leading Bitcoin miner into a global, distributed AI compute network powered by green energy."

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

Juliet YE, Head of Communications
Cango Inc.
Email: ir@cangoonline.com 

Christensen Advisory
Tel: +852 2117 0861
Email: cango@christensencomms.com

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SOURCE Cango Inc.

FAQ

How many Bitcoin did Cango (CANG) produce in November 2025?

Cango produced 546.7 BTC in November 2025, down from 602.6 BTC in October 2025.

What Bitcoin holdings did Cango (CANG) report at month-end November 2025?

Cango reported 6,959.3 BTC held as of November 30, 2025.

What was Cango's deployed and operating hashrate in November 2025 (CANG)?

Deployed hashrate was 50 EH/s and average operating hashrate was 44.38 EH/s in November 2025.

Did Cango (CANG) change its U.S. listing status in 2025?

Yes. Cango completed its transition to the New York Stock Exchange following termination of its ADR program.

Will Cango (CANG) sell its Bitcoin holdings after the November 2025 update?

No. The company said it does not currently intend to sell its Bitcoin holdings.