DALLAS, March 17, 2026 /PRNewswire/ — Cango Inc. (NYSE: CANG), a number one Bitcoin miner leveraging its international operations to develop an built-in power and AI compute platform, introduced its unaudited monetary outcomes for the fourth quarter and full yr ended December 31, 2025.
Monetary and Operational Highlights
- Complete revenues have been $688.1 million for the total yr, together with US$179.5 million in This autumn. Income from the bitcoin mining enterprise was US$675.5 million for the yr, together with US$172.4 million in This autumn. Adjusted EBITDA for the yr was US$24.5 million, whereas This autumn recorded an adjusted EBITDA lack of US$156.3 million.
- A complete of 6,594.6 Bitcoins have been mined over the yr, averaging 18.07 Bitcoins per day, of which 1,718.3 Bitcoins have been mined in This autumn (averaging 18.68 Bitcoins per day). The typical price to mine, excluding machine depreciation, was $79,707 per Bitcoin for the yr and $84,552 in This autumn. All-in prices have been $97,272 per Bitcoin for the yr and $106,251 in This autumn. Since getting into the business, the Firm had mined 7,528.4 Bitcoins as of December 2025.
- The Firm accomplished the termination of its ADR program and transitioned to a direct itemizing on the NYSE to reinforce transparency, and align with its strategic focus, doubtlessly broadening its investor base.
Paul Yu, CEO, mentioned, “2025 marked our inaugural yr as a Bitcoin miner, outlined by swift execution. We initiated a complete asset restructuring and established a globally distributed mining footprint. Coming into 2026, we proactively strengthened our steadiness sheet and optimized our mining fleet to reinforce effectivity and price resilience. Concurrently, we’re advancing our pivot to change into an AI infrastructure supplier. By means of EcoHash, we’re leveraging our experience in scalable computing and power networks to ship versatile, cost-effective AI inference options. With preliminary web site retrofits underway and product prepared for deployment, we’re positioned to execute with focus and strategic self-discipline within the new period.”
Michael Zhang, CFO, acknowledged, “In 2025, Cango delivered vital income development from our scaled Bitcoin mining operations. The web loss from persevering with operations of US$452.8 million was primarily on account of non-recurring transformation prices and market-driven fair-value changes. Our monetary technique centered on strengthening the steadiness sheet to scale back leverage by way of an adjusted Bitcoin treasury coverage and liquidity administration, whereas securing new fairness infusion to offer the flexibleness wanted to navigate volatility and spend money on high-potential areas like AI infrastructure.”
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