what's Cango Inc.?
Cango Inc. is a publicly traded Bitcoin mining company (NYSE: CANG) that operates global mining facilities to produce Bitcoin and build a diversified ecosystem around energy and compute resources. Originally focused on automotive finance, it pivoted to cryptocurrency mining, emphasizing efficient operations amid network difficulty changes. The company maintains substantial Bitcoin reserves as a core treasury strategy, regularly reporting production and holdings through investor relations updates. This positions Cango as a key infrastructure player in the Bitcoin network, powering the digital economy through hardware like BITMAINtech equipment.
Cango Inc. acquired a 50MW Georgia data center and completed a direct NYSE listing.
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x.com/cango_groupSold 55% of Bitcoin holdings in a single week, marking the 4th largest distribution after trade (DAT) event, following a share price decline of over 60% since adopting a Bitcoin standard and over 80% from all-time high.
Established EcoHash Technology LLC in Dallas as U.S. base for AI business operations, appointed Jack Jin as CTO for GPU cluster management.
Raised $75.5M, including $10.5M from Enduring Wealth Capital (EWCL) and $65M from Chairman Xin Jin and Director Chang-Wei Chiu, for an AI distributed computing platform.
Reallocated BTC holdings to repay collateralized loans, strengthening balance sheet.
Sold 4,451 BTC from treasury for $305 million in February 2026 to fund AI initiatives, pivot to AI distributed computing, optimize balance sheet, and build AI infrastructure and software platform.
Acquired a 50MW data center in Georgia.
Completed a direct NYSE listing.
Backed by Antalpha Global.
Greenridge Capital initiated coverage with a Buy rating and $4.00 price target, implying approximately 156% upside from current levels
Building a 150MW project in Indonesia that is scalable to 300MW.
Received a $10.5M investment from EWCL in early 2026.
Achieved net income of $37.3M in Q3, a turnaround from losses in the prior year.
Reported Q3 revenue of $224.6M, up 60.6% quarter-over-quarter.
Reported Q3 operating profit of $43.5M.
Reported Q3 adjusted EBITDA of $80.1M.
Expanded into AI infrastructure, launched GPU compute pilots, distributed AI nodes, tested AI Computing Integrated Box and plug-and-play solutions serving more than 10 clients. Established EcoHash Technology LLC in US, focused on AI Inference Market.
Converted 50 EH/s Bitcoin mining infrastructure across 40+ sites in the US, Middle East, South America, and East Africa into AI inference nodes, live and profitable.
Mined approximately 1,930 BTC in Q3, representing a 37% increase compared to Q2.
Holds 7,290 BTC in corporate treasury, ranked 16th globally.
Produces 138 BTC weekly.
Achieved operational efficiency above 90% through site optimization and hardware upgrades.
Reached 7,000 BTC cumulative mining production in 9 months with hashrate efficiency of 92% and operational cost of $81,000 per BTC mined.
Q3 revenue increases 60% as bitcoin mining output climbs.
Successfully converts from Nasdaq-listed American Depositary Shares to NYSE ordinary shares at 1:2 ratio and deploys mining sites and data centers across East Africa, Oman, and Paraguay beyond previously disclosed U.S. operations.
Bitcoin treasury grows to 6,773 BTC (ranked #16 globally) with 138 BTC weekly production, acquires 50MW mining facility in Georgia in August 2025, and launches GPU compute leasing pilot program for AI workloads.
Monthly hashrate production increases 45% while BTC holdings grow to 4,529.7 BTC with zero sales in July.
Share-settled mining deal closes, expanding total hashrate capacity to 50 EH/s.
Chinese NYSE-listed auto trading platform purchased 472 BTC worth $40M on March 4, 2025, bringing their total holdings to 1,944 BTC.