Cango Inc. reports October Bitcoin mining production decline

Cango Inc. (NYSE: CANG) reported producing 602.6 bitcoin in October 2025, down from 616.6 bitcoin in September, according to a company statement released November 3, 2025.

The company's daily bitcoin production averaged 19.44 bitcoin in October compared to 20.55 bitcoin per day in September. Despite the production decline, Cango's total bitcoin holdings increased to 6,412.6 bitcoin at the end of October from 5,810.0 bitcoin at the end of September.

The company maintained its deployed hashrate at 50 EH/s during both months, while average operating hashrate improved to 46.09 EH/s in October from 44.85 EH/s in September.

"In October, we increased our average operating hashrate to over 90%, while our bitcoin holdings surpassed the 6,000 BTC milestone," said Paul Yu, CEO and Director of Cango.

The company announced in October the termination of its American Depositary Receipt program and plans for direct listing of ordinary shares on the NYSE, expected to complete in November. Cango stated it does not currently intend to sell any of its bitcoin holdings.

Cango entered the cryptocurrency mining business in November 2024 and operates mining facilities across North America, the Middle East, South America, and East Africa. The company also continues operating an online international used car export business.

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