Cango Inc. Reports Strong Growth in Bitcoin Production for July 2025

Cango Inc. (NYSE: CANG) has revealed a comprehensive update regarding its bitcoin production and mining operations for July 2025, outlining a phenomenal growth in metrics compared to the previous month.

Key Production Figures

In July, Cango produced a total of 650.5 bitcoins, marking a 45% increase from 450 bitcoins produced in June. This translates to an average of approximately 20.99 bitcoins mined per day, indicating a substantial leap from the 15 bitcoins per day achieved in June. The total reserves of bitcoin held by Cango have also grown remarkably, climbing to 4,529.7 bitcoins, up from 3,879.2 bitcoins at the end of the previous month.

One of the critical drivers of this production increase is the enhancement in the company’s hash rate. The mining operations deployed a hash rate of 50 EH/s in July, which is a significant rise from the 32 EH/s recorded in June. Additionally, the average operational hash rate for the month stood at 40.91 EH/s, showcasing Cango's operational efficiency and growth potential.

Management Insights

Cango's CEO, Paul Yu, expressed satisfaction with the company's performance, stating, "With the addition of 18 EH/s by the end of June, our deployed hash rate surged in July, which allowed us to increase our bitcoin production substantially. The strong average operational hash rate reinforces our operational competence and significant growth opportunities.” The pronounced growth in bitcoin production aligns with Cango’s strategic goals as it aims to enhance efficiency and expand its production capacity further.

Future Directions

Cango Inc. does not plan to liquidate its bitcoin reserves in the near term, emphasizing a long-term holding strategy as part of its investment approach. The company is dedicated to establishing a more resilient and diverse portfolio by laying the foundation for vertical integration in mining locations and energy infrastructure.

As Cango continues to build on this momentum, it aims to enhance operational efficiencies while exploring additional avenues for expansion within the cryptocurrency landscape. Cango has entered the crypto-asset sector since November 2024, reflecting its commitment to diversifying business interests driven by advances in blockchain technology and increasing acceptance of digital assets.

Cango’s Broader Business Model

Alongside its cryptocurrency endeavors, Cango operates an international online platform, AutoCango.com, facilitating the export of quality used vehicles from China to customers worldwide. This dual-focus strategy positions Cango to capitalize on both cryptocurrency and traditional automotive markets, enhancing its overall market presence.

To learn more about Cango Inc. and its latest updates, please visit www.cangoonline.com. For investor relations inquiries, you can contact Juliet Ye, Head of Communications, at [email protected]