#USA #Hong Kong #Bitcoin Mining #Blockchain Technology #Cango Inc.

Cango Inc. Updates on Bitcoin Mining Operations for July 2025

Cango Inc., a leading player in the Bitcoin mining industry, has recently announced its operational and production updates for July 2025. This report reveals a significant increase in Bitcoin production, reflecting the company’s growing capabilities in the cryptocurrency mining sector. As of July 2025, Cango produced a total of 650.5 Bitcoins, a remarkable jump from 450 Bitcoins in June.

In terms of daily production, the company averaged 20.99 Bitcoins per day in July, up from 15.00 Bitcoins per day the previous month. This improvement can be attributed to the increased efficiency in mining operations and the deployment of enhanced technology. The total number of Bitcoins held by Cango also increased, climbing to 4,529.7 Bitcoins, which is a notable rise from 3,879.2 Bitcoins reported at the end of June.

One of the most notable metrics from the report is the hashrate—a measure of computational power used in processing transactions on the blockchain. Cango's deployed hashrate rose to 50 EH/s (exahashes per second) from 32 EH/s in June, with an average operational hashrate of 40.91 EH/s throughout July. This substantial enhancement in mining capacity highlights the company's operational prowess and strategic planning in the competitive world of cryptocurrency mining.

Paul Yu, CEO of Cango, remarked on the company’s progress, stating, "With the addition of 18 EH/s at the end of June, we have successfully increased our production by 45% month-over-month, reaching 650.5 Bitcoins. Our average operational hashrate of 40.91 EH/s throughout the month underscores our strong operational efficiency and substantial growth potential as we expand our operations. This solid performance not only reflects our commitment to execution but also fuels our ambition to accelerate future production."

Cango's strategy reflects a long-term vision, with a commitment to holding Bitcoin assets rather than selling them. This approach aligns with their capabilities to support sustained growth and a robust business model in the evolving digital currency landscape.

Looking forward, Cango is poised to build a more resilient and diversified mining portfolio. The new management team, coupled with an increase in Bitcoin reserves generated from mining operations, focuses on establishing the foundations for vertical integration. This strategic move will enhance the company's operational infrastructure, further supporting Cango’s ambition of developing a diversified portfolio across various mining sites and energy infrastructures.

Cango Inc. is primarily engaged in Bitcoin mining, with strategically located operations across North America, the Middle East, South America, and East Africa. The company ventured into cryptocurrency assets in November 2024, driven by advancements in blockchain technology, the growing adoption of digital assets, and its commitment to diversifying its business portfolio. Simultaneously, Cango continues to operate its international used vehicle export business through AutoCango.com, facilitating easier access for global customers to high-quality vehicle stocks from China.

For more detailed information, visit Cango's official website.

Contact for Investor Relations:
Juliet Ye, Communications Manager, Cango Inc.
Email: [email protected]