Cango Reports October Bitcoin Production, Holdings Surpass 6,400 BTC

Cango, a company originally focused on auto trading services, has successfully transitioned into Bitcoin mining, producing 602.6 bitcoins in October 2025 and increasing its total holdings to over 6,400 BTC. The firm operates with an average operating hashrate exceeding 90%, demonstrating significant operational maturity within a year of entering the cryptocurrency sector. This transformation was propelled by Cango's acquisition of Bitmain mining equipment worth $256 million, enabling rapid scaling of its mining operations across North America and other regions. Additionally, Cango plans to complete a direct listing of its ordinary shares on the New York Stock Exchange, following the termination of its American Depositary Receipt program, emphasizing its commitment to a U.S.-centric business approach. CEO Paul Yu highlighted the company's strong position to leverage emerging opportunities in energy and artificial intelligence sectors. Despite its new focus on digital assets, Cango continues to operate its international used car export business, maintaining a diversified business portfolio.