Cango Inc. (NYSE: CANG) has released its Bitcoin production and mining operations update for October 2025, highlighting significant operational milestones and growth in its cryptocurrency mining activities.
Key metrics show that the company produced 602.6 Bitcoin in October, slightly down from 616.6 in September, with an average daily production of 19.44 Bitcoin. Total Bitcoin holdings surged to 6,412.65 BTC by month-end, up from 5,810.0 in September, marking a milestone as holdings surpassed 6,000 BTC. The deployed hashrate remained constant at 50 EH/s, while the average operating hashrate increased to 46.09 EH/s from 44.85 EH/s, reflecting improved efficiency.
CEO Paul Yu emphasized, "In October, we increased our average operating hashrate to over 90%, while our Bitcoin holdings surpassed the 6,000 BTC milestone, reaching a total of just over 6,400 BTC by month-end." He noted that these achievements underscore the company's operational maturity as it approaches the one-year anniversary of its strategic shift into crypto. Additionally, Cango announced the termination of its ADR program and plans for a direct listing of ordinary shares on the NYSE in November, reinforcing its U.S.-centric focus and positioning to leverage opportunities in energy and AI.
Cango entered the crypto asset space in November 2024, with mining operations spanning North America, the Middle East, South America, and East Africa. The company maintains a long-term holding strategy for Bitcoin and does not intend to sell its assets, supporting its diversified business portfolio that includes an online used car export service.
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