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.
Links
x.com/cango_groupCompleted 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.
Achieved net income of $37.3M in Q3, a turnaround from losses in the prior year.
Launched GPU compute pilots and distributed AI nodes as part of expansion into AI infrastructure.
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 weekly production of 138 BTC, company 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.