Cango Inc. (NYSE: CANG) has released its Bitcoin production and mining operations update for November 2025, marking the one-year anniversary of its strategic transformation into the crypto asset space. The company, which entered Bitcoin mining in November 2024, reported significant operational progress.
CEO and Director Paul Yu stated that November demonstrated both the company's progress and its future direction. A key achievement was the expansion of its deployed hashrate from 32 EH/s to 50 EH/s earlier in the year. Following this expansion, Cango has optimized its operations to achieve average operating hashrate levels of around 90%.
The company closed the month of November with 6,959.3 BTC in its holdings, showcasing the scale of its mining output. In a parallel corporate development, Cango completed its transition to a direct listing on the New York Stock Exchange following the termination of its American Depositary Receipt (ADR) program. This move is intended to allow for direct share ownership and enhance the company's visibility and alignment within the U.S. market.
Yu framed these milestones as strengthening Cango's foundation and advancing its long-term vision to evolve from a leading Bitcoin miner into a global, distributed AI compute network powered by green energy. The company's mining operations are strategically deployed across North America, the Middle East, South America, and East Africa.
Cango continues to operate its legacy online international used car export business through AutoCango.com alongside its burgeoning Bitcoin mining enterprise.
SOL
USDC
USDT