Cango Inc. Closed the US$10.5 Million Equity Investment and Secured US$65 Million Additional Equity Investments [Accessibility Statement] Skip NavigationDALLAS, Feb. 12, 2026 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading Bitcoin miner leveraging its global operations to develop an integrated energy and AI compute platform, today announced that it closed the previously announced US$10.5 million equity investment from Enduring Wealth Capital Limited ("EWCL"), and entered into d ...

Financial Data and Key Metrics Changes - Total revenue for Q4 2025 reached $196 million, up 30.4% quarter-over-quarter and 121.1% year-over-year, marking the highest quarterly revenue in the past three years [6][27] - Full-year revenue for 2025 was $530 million, surging 96.7% year-over-year [12][27] - Gross margin in Q4 was $14.6 million, down from $16.6 million in Q3, primarily due to large-scale orders and declining Bitcoin prices [32][33] Business Line Data and Key Metrics Changes - Product revenue from mining machines was $165 million in Q4, up 39.1% quarter-over-quarter and 124.5% year-over-year [8][27] - The total computing power sold reached 14.6 EH/s in Q4, up 45.7% quarter-over-quarter and 60.9% year-over-year [7][27] - Revenue from North American customers was $125 million, accounting for over 75% of total product sales [28][29] Market Data and Key Metrics Changes - Bitcoin prices experienced significant volatility, peaking at approximately $126,000 in October before dropping below $90,000 by December [5][26] - The total network hash rate reached historical highs, impacting miners' profitability [26][27] Company Strategy and Development Direction - The company aims to integrate computing and energy infrastructure, focusing on the co-location of Bitcoin mining and AI high-performance computing (HPC) [16][18] - In 2026, the strategy will prioritize securing reliable power resources and expanding the consumer and small to medium-sized business segments [20][19] - The company plans to build a robust pipeline for direct power capacity in the U.S., potentially reaching gigawatt scale by the end of 2026 [18][19] Management's Comments on Operating Environment and Future Outlook - The management expressed a cautious outlook for the first quarter of 2026, expecting revenue between $60 million and $70 million due to ongoing market volatility [24][25] - The company remains focused on maintaining cash flow discipline and preparing for potential demand recovery later in the year [22][23] Other Important Information - The company holds 1,750 Bitcoins and 3,951 Ethereums, valued at approximately $166 million at year-end prices [29][30] - The company has repurchased approximately 2.8 million ADSs for $2 million under its stock repurchase program [31] Q&A Session Summary Question: Progress on A16 mass production - The A16 machines are currently in the testing phase, with mass production expected to start after the Lunar New Year holiday [39][40] Question: Margin profile difference between Home Series and A15 - The Home Series maintains good profitability, while industrial machines face pressure due to prioritization of large orders [41][42] Question: Total addressable market for energy efficiency initiatives - The size of individual projects typically ranges from a few megawatts to several tens of megawatts, with a cautious approach to market size estimates [48][49] Question: Long-term manufacturing footprint and U.S. manufacturing - The company has built a resilient manufacturing setup across multiple regions, including the U.S., to adapt to compliance and market changes [52][53] Question: Breakeven price for Bitcoin mining - The all-in payback level for Bitcoin mining is estimated to be around $100,000-$110,000, with a shutdown price for A15 Pro at approximately $37,000 [57][58] Question: Foundry availability for A16 and cost differences - The foundry capacity is tight, but the company has secured critical resources, with unit costs for A16 expected to face upward pressure [63][64] Question: Self-mining target for 2026 - The company does not have a fixed self-mining target for 2026 but aims to prioritize energy infrastructure to scale operations when market conditions allow [85][86]

Financial Data and Key Metrics Changes - Total revenue for Q4 2025 reached $196 million, up 30.4% quarter-over-quarter and 121.1% year-over-year, marking the highest quarterly revenue in the past three years [6][29] - Full-year revenue for 2025 was $530 million, surging 96.7% year-over-year, nearly doubling 2024 results [13][29] - Gross margin in Q4 was $14.6 million, down from $16.6 million in Q3, primarily due to large-scale orders and declining Bitcoin prices [34] Business Line Data and Key Metrics Changes - Product revenue from mining machines was $165 million in Q4, up 39.1% quarter-over-quarter and 124.5% year-over-year, driven by strong sales volume [9][29] - The total computing power sold reached 14.6 exahash per second, up 45.7% quarter-over-quarter and 60.9% year-over-year [8][29] - The Avalon Home series contributed approximately $25 million in revenue for 2025, indicating strong growth in this segment [30] Market Data and Key Metrics Changes - Revenue from North American customers in Q4 was $125 million, accounting for over 75% of total product sales, highlighting the importance of this market [30] - The total installed hash rate increased 8.6% quarter-over-quarter to 9.91 exahash per second by the end of Q4 [10] Company Strategy and Development Direction - The company aims to integrate computing and energy infrastructure, focusing on the co-location of Bitcoin mining and AI high-performance computing (HPC) [17][19] - In 2026, the strategy will prioritize securing reliable power resources and developing a systematic approach to power capacity [18][20] - The company plans to enhance its consumer and small to medium-sized business segments by improving product quality and building distribution channels [21][22] Management's Comments on Operating Environment and Future Outlook - The management expressed a cautious outlook for the first quarter of 2026, anticipating revenue between $60 million and $70 million due to market volatility [26][27] - The company remains focused on maintaining cash flow discipline and preparing for potential demand recovery later in the year [25][36] Other Important Information - The company holds 1,750 Bitcoins and 3,951 Ethereums, valued at approximately $166 million at year-end prices, providing liquidity and potential upside [10][30] - The company recorded a $44 million non-cash fair value loss due to the decline in Bitcoin prices, impacting adjusted EBITDA [35] Q&A Session Summary Question: Update on A16 mass production timeline - The A16 mass production is expected to start after the Lunar New Year holiday, with volume ramp-up anticipated by the end of Q1 [41][42] Question: Margin profile differences between Home series and A15 - The Home series maintains good profitability, while industrial machines face pressure due to market conditions; the company will continue to prioritize the Home series for profit generation [43][44] Question: Size of the total addressable market for energy efficiency initiatives - The size of individual projects typically ranges from a few megawatts to several tens of megawatts, with a cautious approach to market size estimates [50][51] Question: Long-term manufacturing footprint and U.S. manufacturing adjustments - The company has built a resilient manufacturing footprint across multiple regions, including the U.S., to adapt to changing compliance and market conditions [56][57] Question: Breakeven price for Bitcoin mining - The all-in payback level for Bitcoin mining is estimated to be around $100,000-$110,000, while the shutdown price for the A15 Pro version is approximately $37,000 [60][61] Question: Foundry availability for A16 and cost differences - The foundry capacity is tight, but the company has secured critical resources; the unit cost for A16 is expected to face upward pressure compared to A15 [66][67] Question: Self-mining targets for 2026 - The company does not have a fixed self-mining target for 2026 but aims to prioritize energy infrastructure to scale operations when market conditions allow [87][88]

Core Insights - Bitdeer Technologies Group reported a significant increase in self-mining hashrate and Bitcoin production, indicating strong operational growth and expansion in the cryptocurrency mining sector [1][6][14]. Mining Operations - The self-mining hashrate reached 63.2 EH/s, a 14% increase from December 2025 [14]. - Bitcoin production surged by 430% year over year, totaling 668 Bitcoins mined in January 2026 [6][12]. - The total hash rate under management increased to 78.1 EH/s, up from 71.0 EH/s in December 2025 [10]. SEALMINER Manufacturing - The deployment of SEALMINER mining rigs contributed to the increase in self-mining capacity, with a total proprietary hash rate of 65.1 EH/s as of January 2026 [3][10]. - Cumulative deployed SEALMINER A3 units increased to 8.7 EH/s, while A2 units reached 44.1 EH/s [3]. Research and Development - The SEAL-DL1 Litecoin ASIC chip has been successfully taped out, with initial testing results exceeding expectations [7]. - Plans are in place to launch the SEAL-DL1 product in Q1 2026, which is expected to outperform the SEALMINER A2 series [7]. Infrastructure Development - Bitdeer is advancing its U.S. manufacturing plans, with a lease signed and construction permit application submitted [7]. - The total global electrical capacity across various sites is now 3,002 MW, with several projects in progress and planning stages [9][19]. AI and HPC Initiatives - The company is actively evaluating colocation arrangements for HPC/AI services, with strong interest from potential hyperscaler customers [8][14]. - Initial deployment of NVIDIA GB200 NVL72 infrastructure in Malaysia marks the first phase of capacity expansion for AI workloads [11].

Operating & Financial Results Forth Quarter 2025 & FY2025 February 10, 2025 Chairman & CEO CFO Nangeng Zhang Jin "James" Cheng 1 Safe Harbor Statement This presentation contains certain financial measures that are not recognized under generally accepted accounting principles in the United States ("GAAP"), including adjusted EBITDA (including adjusted EBITDA margin), non-GAAP net income, non-GAAP diluted earnings per share/ADS and cash flow. These non-GAAP measures should be considered in addition to, and no ...

Core Viewpoint - Cipher Mining Inc. (NASDAQ:CIFR) has shown strong performance, with a 13.78% increase in stock price following positive coverage from Morgan Stanley, which has set a price target of $38, indicating a 127% upside potential from its recent closing price [1][2]. Group 1: Company Performance - Cipher Mining's stock rose to $16.76 per share on Monday, reflecting investor optimism driven by Morgan Stanley's bullish outlook [1]. - The company is expected to benefit from the increasing demand for artificial intelligence power, as it can leverage its bitcoin mining and data center capabilities [2][3]. Group 2: Financial Activities - Cipher Mining plans to raise $2 billion through the issuance of senior secured notes with a yield rate of 6.125%, maturing in 2031 [3][4]. - The proceeds from the notes will be allocated to finance the Black Pearl Facility, reimburse prior equity contributions, fund debt service reserves, and cover offering-related fees and expenses [4]. Group 3: Upcoming Events - Cipher Mining is scheduled to announce its fourth quarter and full-year 2025 earnings results on February 24, with a conference call planned to discuss the outcomes [3].

([BUSINESS WIRE])--Soluna Holdings, Inc. ("Soluna†or the "Company†) (NASDAQ: SLNH), a developer of green data centers for intensive computing applications, including Bitcoin mining and AI, today announced that it has executed an Equipment Supply Agreement with Cormint Data Systems ("Cormint†), a Texas based firm that has designed, delivered, and operationalized more than 130MW of data center infrastructure, to support a 12 MW deployment at Project Kati 1 in Willacy County, Texas. U...## Soluna Appoints ...

Core Insights - Canaan Inc. achieved a record high cryptocurrency treasury of 1,778 BTC and 3,951 ETH, demonstrating strong operational performance despite macroeconomic challenges [1][2] - The company's deployed global hashrate exceeded 10 EH/s, with an operating hashrate of 6.63 EH/s at the end of January 2026 [1][3] Financial Performance - In January 2026, Canaan mined 83 BTC, contributing to a total of 1,778 BTC and 3,951 ETH owned by the company [3] - The average revenue split for the month was 58.2%, with an average all-in power cost of US$0.043 per kWh [3][6] Operational Efficiency - The global average miner efficiency improved to 24.2 J/TH, with North America averaging 19.3 J/TH and non-North America averaging 29.0 J/TH [4] - The month-end installed power capacity reached 253.3 MW, with 95.7 MW in North America and 157.5 MW globally [4] Strategic Initiatives - Canaan is focused on advancing energy reuse and expanding into the home mining segment, which is expected to offer attractive margins with limited capital intensity [2] - The company announced a 3 MW proof-of-concept project in Manitoba, Canada, aimed at recovering heat from computing systems for greenhouse operations, targeting 95% uptime [9] Shareholder Engagement - Canaan's board approved a US$30 million share buyback program, with approximately 2.8 million ADSs repurchased for a total of US$2 million as of February 10, 2026, reflecting management's confidence in the company's financial position [10]

Breaking a familiar pattern, bitcoin (BTC) is on the rise during the U.S. session, climbing to $70,800 after falling to just above $68,000 earlier in the day. Bitcoin is now higher by 0.5% over the past 24 hours, with ether (ETH), XRP (XRP) and solana (SOL) ahead closer to 1.5% over the same time frame. Risk assets are generally in the green on Monday, with the Nasdaq up 1% and the S&P 500 up 0.5%. Gold is ahead 1.9% to $5,075 per ounce, and silver is up 7.4% to $82.50 per ounce. "What we are experienc ...

Group 1 - Cango sold 4,451 BTC for approximately $305 million to reduce leverage related to a bitcoin-collateralized loan [1] - The transaction was settled in Tether's USDT stablecoin and was approved by the board of directors, reflecting a balance-sheet adjustment rather than a retreat from mining operations [2] - The company remains committed to its Bitcoin operations while prioritizing capital discipline amidst volatile mining economics [2][3] Group 2 - Cango is pivoting towards artificial intelligence (AI) by utilizing its infrastructure to provide distributed compute capacity for the AI industry [5] - The initial phase of the AI strategy will focus on providing inference capacity for small and midsized enterprises, with future plans to develop software for coordinating distributed GPU resources [5] - Jack Jin has been appointed as the chief technology officer for the AI business line, bringing experience from leading GPU infrastructure at Zoom Communications [6] Group 3 - Cango entered the bitcoin mining sector in late 2024 and ended 2025 with Bitcoin reserves exceeding 7,500 BTC [6] - The company plans to balance mining scale and efficiency while advancing its AI strategy [6]