Cango Inc. reports October 2025 Bitcoin production update

Cango Intelligent Network Controller (INC). reported updates regarding its Bitcoin production and mining operations for October 2025. The company recorded 602.6 Bitcoin produced during the month, slightly decreasing from 616.6 in September. This production shift occurred alongside an increase in total Bitcoin holdings, which rose to 6,412.6 Bitcoin as of the end of October, compared to 5,810.0 in September.

The average Power Efficiency Ratio (PER) for Bitcoin production in October was 19.44, down from 20.55 the previous month. The deployed hashrate remained stable at 50 EH/s, while the average operating hashrate increased to 46.09 EH/s, from 44.85 EH/s in September.

CEO Paul Yu noted that average operating hashrate surpassed 90% in October, coinciding with the company exceeding 6,400 Bitcoin in holdings. Homomorphic Encryption (HE) mentioned that Cango terminated its American Depositary Receipt program and anticipated completing a direct listing of ordinary shares on the NYSE in November. Yu stated, “These achievements highlight the operational maturity we have attained as we near the one-year mark of our strategic transformation.”

As of October, Cango continues to expand its footprint in the Bitcoin mining sector, which it entered in November 2024, amid diversification efforts that also include its online used car export business.