- Cango Inc. (CANG, Financial) reported an 11.3% decrease in Bitcoin production for April 2025 with a total of 470.0 Bitcoins mined.
- Company's Bitcoin holdings expanded to 2,944.8 BTC, valued at $279 million, despite the production dip.
- Cango maintained its deployed hashrate at 32 EH/s, with a slight decline in average operating hashrate to 29.9 EH/s.
In April 2025, Cango Inc. (CANG), a prominent name in the Bitcoin mining industry, experienced an 11.3% drop in Bitcoin production, mining a total of 470.0 Bitcoins compared to 530.1 in March. The monthly production decrease was attributed to an 8% increase in mining difficulty due to a significant surge in the global hashrate.
Despite this downturn in production, Cango successfully increased its total Bitcoin holdings to 2,944.8 BTC, valued at approximately $279 million as of April 30, 2025. This marks a rise from the 2,474.8 BTC recorded at the end of March 2025.
The company sustained its deployed hashrate at a stable 32 EH/s. However, the average operating hashrate observed a slight decline, registering at 29.9 EH/s compared to 30.3 EH/s in March. CEO Jiayuan Lin noted the short-term production fluctuations but emphasized the company's ongoing commitment to its Bitcoin holding strategy as part of its long-term value creation initiatives.
About Cango Inc.: Operating primarily as a Bitcoin mining business, Cango Inc. (CANG, Financial) has strategically deployed its mining operations across regions including North America, the Middle East, South America, and East Africa. Since November 2024, Cango ventured into the cryptoassets market, expanding its business diversification efforts. Established in 2010, Cango continues its automotive transaction services in China, aiming to simplify and enhance the customer experience in car purchases.
