Cango Inc. Announces Third Quarter 2025 Financial Results

Cango Inc., listed on the NYSE as CANG, reported its unaudited financial results for the third quarter of 2025. The company achieved revenues of $224.6 million, marking a 60.6% increase from the previous quarter. A significant portion, $220.9 million, was generated from bitcoin mining activities.

Operating income reached $43.5 million, with a net income of $37.3 million and an adjusted EBITDA of $80.1 million. The company's average operating hashrate rose from 40.91 EH/s in July to 44.85 EH/s in September, further increasing to 46.09 EH/s in October. Cango mined a total of 1,930.8 BTC in the third quarter, improving daily production by 36% over the previous quarter.

The transition to a direct listing on the NYSE and the completion of its ADR program were strategic moves to enhance capital structure and transparency. CEO Paul Yu emphasized Cango’s focus on its core mining operations and long-term strategy of building a global AI compute network powered by green energy.