Cango Inc. (CANG) Hits 50 EH/s Mining Capacity, Solidifying Crypto Leadership

Group 1 - Cango Inc. has transitioned from an automotive transaction services platform to a significant player in the Bitcoin mining industry, focusing on crypto mining as a core growth driver [1][3] - In Q2 2025, Cango Inc. reported a total mining capacity of 50 EH/s, including an 18 EH/s acquisition, and generated $138.1 million in revenue from Bitcoin mining, producing 1,404.4 BTC [2] - The company adopted an asset-light strategy using plug-and-play mining rigs, allowing for rapid scaling with minimal upfront capital, which reduces depreciation costs and enables geographic diversification [3] Group 2 - Cango Inc. divested its China-based assets for $352 million, enhancing liquidity to support its expansion plans [2] - The adjusted EBITDA for the quarter was $99.1 million, indicating strong operational profitability despite a net loss due to one-off charges unrelated to core operations [2][3] - Within nine months of its strategic shift, Cango Inc. has become one of the world's largest Bitcoin miners, with ongoing expansion plans reinforcing investor confidence [3]