Cango(US:CANG)2025-09-05 01:00Financial Performance - Total revenue reached US$139.8 million[10], with the BTC mining business contributing US$138.1 million[11] - Adjusted EBITDA was US$99.1 million, a significant increase compared to US$5.4 million in the same period of 2024[16] - Cash and cash equivalents stood at US$117.8 million as of June 30, 2025[12] Operational Highlights - The company expanded its total mining capacity to 50 EH/s, representing 6% of the global network's computing power as of June 30, 2025[19] - A total of 1,404.4 BTC were mined during the quarter, increasing the company's BTC treasury to 3,879.2 BTC by quarter end[19] - The value of BTC holdings (HODL) was US$420.5 million as of June 30, 2025[19] - Average cash cost to mine was US$83,091 per BTC[20] Strategic Initiatives - Completed the share-based acquisition of 18 EH/s of hashrate[19, 54] - Cango acquired a 50 MW mining facility in Georgia, USA, with 30 MW for self-mining and 20 MW for hosting services[56] Key Metrics - Cumulative Coins per Million ADS was 21.9 BTC in Q2 2025[14, 22] - Total Operating Capacity reached 1,200 MW as of June 30, 2025[20, 34]