Cango Inc. (CANG) Reports Q1 Loss of $0.28

Cango Inc. (NYSE: CANG) reported Q1 EPS of ($0.28), versus $0.00 reported last year. Revenue for the quarter came in at $145.2 million, versus analyst estimates of $150 million.

Business Outlook

We currently maintain a deployed hashrate of 32 EH, demonstrating our operational resilience. As part of our continued commitment to growth and scaling our capabilities, we are targeting a substantial increase in our hashrate over the coming months. We are on track to grow our deployed hashrate to approximately 50 EH before the end of July. This increase is expected to be driven by the closing of our share-settled acquisition of Bitcoin mining assets, positioning us to strengthen our competitive advantage and increase operational efficiency.

For earnings history and earnings-related data on Cango Inc. (CANG) click here.

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