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Cango Inc (NYSE: CANG), a leading automotive transaction platform and emerging digital asset operator, provides this centralized hub for all official corporate announcements and market developments. Track the company's dual focus on automotive financing innovation and cryptocurrency mining expansion through verified press releases and financial updates.
Investors and industry observers will find timely updates on quarterly earnings, strategic partnerships, technology implementations, and crypto mining operations. The curated news feed serves as an essential resource for understanding Cango's position at the intersection of traditional automotive services and blockchain-powered digital assets.
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Cango Inc. (NYSE: CANG) has scheduled its first quarter 2025 financial results announcement for May 14, 2025 after market close. The company will host a conference call on May 14, 2025, at 9:00 P.M. Eastern Time (May 15, 2025, at 9:00 A.M. Beijing Time) to discuss the results. The earnings release will be available on Cango's investor relations website. The conference call will be accessible via various toll-free numbers for international, US, mainland China, and Hong Kong participants. A replay of the call will be available through May 21, 2025, and a live and archived webcast will be accessible on the company's investor relations website.
Cango Inc. (NYSE: CANG) reported its April 2025 bitcoin mining performance, showing a 11.3% decrease in monthly production to 470.0 Bitcoins from 530.1 in March. Despite lower production, the company expanded its Bitcoin holdings to 2,944.8 BTC (valued at $279 million) as of April 30, up from 2,474.8 BTC in March.
The company maintained its deployed hashrate at 32 EH/s, with average operating hashrate slightly declining to 29.9 EH/s from 30.3 EH/s. CEO Jiayuan Lin attributed the production decline to a significant surge in global hashrate and an 8% increase in mining difficulty compared to March.
Cango Inc. (NYSE: CANG) has released its crypto mining production update for April 2025. The company produced 470.0 Bitcoins in April, down from 530.1 in March 2025, with daily production averaging 15.7 Bitcoins compared to 17.1 in the previous month. The company's total Bitcoin holdings increased to 2,944.8 by month-end, with no Bitcoins sold during the period. Cango maintained its deployed hashrate at 32 EH/s, while the average operating hashrate slightly decreased to 29.9 EH/s from 30.3 EH/s in March.
Cango, a rising force in Bitcoin mining, received coverage initiation from Apollo Insights on April 22, 2025. The company, with a market cap of $387.1 million and stock range of $1.33-$8.00, has shown remarkable growth since entering the industry in November 2024.
Key highlights include projected revenue of RMB3,913.2 million and adjusted EBITDA of RMB665.6 million for 2025E, with expected increases of 18.7% and 78.1% respectively in 2026E. Cango achieved a significant operating hash rate of 30.3 EH/s in March 2025, ranking joint second highest for the month.
The company holds 2,475 Bitcoin (valued at US$211 million as of April 17, 2025) and operates globally across:
- U.S. (38%)
- East Africa (37%)
- Oman (15%)
- Paraguay (9%)
- Canada (1%)
Cango's deployed hashrate is projected to reach 42 EH/s by end-FY25E.
Cango Inc. (NYSE: CANG) reported strong Bitcoin mining performance for March 2025, with total production reaching 530.1 Bitcoins, marking a 12% increase from February's 472.7 Bitcoins. The company's daily Bitcoin production improved to 17.1 from 16.9 in February.
Key metrics include:
- Total Bitcoin holdings increased to 2,474.8 from 1,944.7 in February
- Deployed hashrate maintained at 32 EH/s
- Average operating hashrate improved to 30.3 EH/s from 29.7 EH/s
Cango Inc. (NYSE: CANG) has announced definitive agreements to sell its PRC Business to Ursalpha Digital for US$351.94 million in cash. The deal structure includes an initial payment of US$210.64 million at closing, with remaining payments subject to tax obligations and credit risk exposure reduction.
This transaction follows a March 14, 2025 preliminary non-binding letter from Enduring Wealth Capital (EWCL) proposing to acquire control of Cango and dispose of its PRC Business. The deal's closing conditions include shareholder approval and completion of internal restructuring to separate PRC operations from international businesses, including Bitcoin mining and automotive trading.
If completed, Cango will file to terminate its 'China Concept Stock' status with CSRC. The agreement includes a reversal clause if the status isn't terminated within three months or if a proposed secondary acquisition of 10 million Class B shares by EWCL fails to execute.
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.
Cango Inc. (NYSE: CANG) reported remarkable growth in its 2024 annual report, highlighting its successful transformation into a major Bitcoin mining player. The company achieved total revenues of RMB668.0 million (US$91.5 million) in Q4 2024, marking a 400% year-over-year increase, primarily driven by Bitcoin mining operations which contributed RMB653.0 million (US$89.5 million).
The company reported a significant turnaround with Q4 net income of RMB55.9 million (US$7.7 million), compared to a previous year's loss. Full-year 2024 revenues reached RMB804.5 million (US$110.2 million) with net income of RMB299.8 million (US$41.1 million).
As the third-largest publicly traded miner globally, Cango deployed 32 EH/s of mining capacity, mining 933.8 Bitcoin in Q4 with an efficiency of 17.81 BTC per EH/s. Operations span five countries, with 90% of its fleet comprising water-cooled Bitmain S19XP Hyd. machines. The company plans to expand to 50 EH/s by July 2025.
Cango Inc. (NYSE: CANG) has announced the filing of its annual report on Form 20-F with the Securities and Exchange Commission (SEC) for the fiscal year ended December 31, 2024. The filing was completed on March 27, 2025.
The annual report is now accessible through multiple channels, including the company's investor relations website at ir.cangoonline.com and the SEC's website at www.sec.gov. Additionally, shareholders and American Depositary Share holders can request a complimentary hard copy of the annual report, which includes audited consolidated financial statements.
Cango Inc. (NYSE: CANG) has announced an extension of the deadline to close its proposed acquisitions of crypto mining machines with 18 Exahash per second (EH) hashrate through Class A ordinary shares issuance. The deadline has been extended from March 31, 2025, to July 31, 2025.
The extension follows a preliminary non-binding letter of intent received on March 14, 2025, from Enduring Wealth Capital (EWCL), proposing to acquire control of Cango and dispose of its existing PRC business. This potential transaction may affect provisions in the original Purchase Agreement signed on November 6, 2024.
Previously, on November 15, 2024, Cango completed a separate cash-settled acquisition of crypto mining machines with 32EH hashrate for US$256 million. The completion of the share-settled transaction remains subject to certain conditions, with no guarantee of completion by the extended deadline.