Cango Mines 602.6 BTC in October, Total Holdings Surpass 6,400 Bitcoin

Core Insights - Cango Inc. mined 602.6 Bitcoin in October 2025, increasing total holdings to 6,412.6 BTC by the end of the month, with an average daily production of 19.44 BTC, down from 20.55 BTC in September 2025 [1][2] - The company plans to transition from American depositary receipts to direct share trading on the New York Stock Exchange, effective November 17, 2025, to enhance visibility and reduce fees [2][5] - Cango's average operating hashrate rose to 46.09 exahashes per second in October, maintaining a deployed hashrate of 50 EH/s, achieving over 90% operational efficiency across its mining facilities [3][4] Mining Operations and Holdings Strategy - The company has achieved significant operational efficiency with a hashrate increase and plans to continue optimizing its mining operations [3] - Cango's commitment to long-term Bitcoin holdings indicates a strategic focus on asset retention rather than immediate liquidation [2] Strategic Positioning for AI Expansion - Cango's CEO highlighted the company's readiness to leverage emerging opportunities in energy and AI, marking a significant milestone in its strategic transformation since entering the crypto space in November 2024 [4][5] - The company is exploring AI infrastructure opportunities, including a planned high-performance computing pilot program set for the first half of 2026 [6] Future Plans - Cango aims to build a dynamic computing platform that integrates Bitcoin mining with AI workloads, reflecting a trend in the industry towards diversification beyond traditional mining [5][6] - The acquisition of a mining facility in Georgia for $19.5 million in August 2025 is part of Cango's strategy to develop in-house operational expertise [5]