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

Rhea-AI Summary

Cango (NYSE: CANG) published its October 2025 bitcoin production and mining update on Nov 3, 2025. Key metrics: 602.6 BTC produced in October (avg 19.44 BTC/day), 6,412.6 BTC held as of month-end, deployed hashrate at 50 EH/s and average operating hashrate of 46.09 EH/s for October. Figures are unaudited and estimated.

The company noted it holds bitcoin long term with no current intent to sell. Management said average operating hashrate exceeded 90% utilization and highlighted surpassing the 6,000 BTC milestone. Cango also announced termination of its ADR program and a planned direct listing of ordinary shares on NYSE, expected to complete in November 2025.

Positive

• Total Bitcoin holdings reached 6,412.6 BTC as of Oct 31, 2025 (+10.3% MoM)

Negative

• None.

HONG KONG, Nov. 3, 2025 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company") today published its Bitcoin production and mining operations update for October 2025.

Bitcoin Mining Production and Mining Operations Update for October 2025

Metric	October 2025 1	September 2025 1
Number of Bitcoin produced	602.6	616.6
Average number of Bitcoin produced per day	19.44	20.55
Total number of Bitcoin held 2	6412.6	5,810.0
Deployed hashrate	50 EH/s	50 EH/s
Average operating hashrate 3	46.09  EH/s	44.85 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, "In October, we increased our average operating hashrate to over 90%, while our Bitcoin holdings surpassed the 6,000 BTC milestone, reaching a total of just over 6,400 BTC by month-end. These achievements highlight the operational maturity we have attained as we near the one-year mark of our strategic transformation. In October, we announced the termination of our ADR program and the planned direct listing of our ordinary shares on the NYSE, which we expect to complete in November. This further reinforces our commitment to operating as a U.S.-centric organization. We believe these operational and financial milestones put us in a strong position to capture value from emerging opportunities in energy and AI going forward."

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/cango-inc-announces-october-2025-bitcoin-production-and-mining-operations-update-302602312.html

SOURCE Cango Inc.

FAQ

How many bitcoins did Cango (CANG) produce in October 2025?

Cango produced 602.6 BTC in October 2025, averaging 19.44 BTC per day (unaudited, estimated).

How many bitcoins does Cango (CANG) hold as of October 31, 2025?

Cango held 6,412.6 BTC as of month-end October 31, 2025 (unaudited).

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

Deployed hashrate was 50 EH/s and average operating hashrate was 46.09 EH/s for October 2025.

Will Cango (CANG) sell its bitcoin holdings after the October 2025 update?

No; Cango stated it holds bitcoin for the long term and does not currently intend to sell its holdings.

When will Cango (CANG) complete its NYSE direct listing and ADR termination?

Cango announced the termination of its ADR program and expects to complete the direct listing on the NYSE in November 2025.

Did Cango (CANG) increase mining utilization in October 2025?

Yes; management reported average operating hashrate utilization rose to over 90% in October 2025.