PANews reported on May 15 that according to PR Newswire, Cango Inc. (NYSE: CANG) had unaudited revenue of RMB 1.1 billion (approximately US$145 million) in the first quarter of 2025, a year-on-year increase, mainly due to its Bitcoin mining business launched in November 2024, with a single-quarter mining revenue of RMB 1 billion and a total of 1,541 Bitcoins produced. The company implements a "mining + holding" strategy, with a current computing power of 32 EH/s, which is expected to increase to 50 EH/s by the end of July.
Cango's revenue in the first quarter reached 1.1 billion yuan, and BTC mining became the main source of income
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