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

Core Insights - Cango produced 602.6 bitcoins in October, a decrease of 2.3% from 616.6 in September, while holding 6,412.6 bitcoins at month-end, which is an increase of about 10% from 5,810 a month earlier [1][2] - The average daily output of bitcoins was 19.44, down from 20.55 in September [1] - Cango's deployed hashrate remained at 50 exahashes per second (EH/s), with the average operating hashrate increasing to 46.09 EH/s from 44.85 EH/s [2] - The average operating hashrate exceeded 90% in October, and bitcoin holdings surpassed 6,000 BTC for the first time [2] - Cango plans to complete a direct listing of its ordinary shares on the New York Stock Exchange this month, following the termination of its ADR program [2] - The company entered the bitcoin mining business in November 2024, acquiring Bitmain facilities across North America, which solidified Bitmain's leadership in the Nasdaq-listed company [3] - Since entering the market, Cango has focused on increasing its Bitcoin holdings and hashrate efficiency, with limited deployments beyond the initial 50 EH/s purchased [3]