DALLAS, Dec. 2, 2025 /PRNewswire/ — On December 1, Cango Inc. (NYSE: CANG) (“Cango” or the “Company”) announced its unaudited financial results for the third quarter ended September 30, 2025.
Third Quarter 2025 Financial and Operational Highlights
- Total revenues were US$224.6 million in the third quarter of 2025, an increase of 60.6% compared with the second quarter of 2025. Revenue from the bitcoin mining business in the third quarter of 2025 was US$220.9 million.
- Operating income was US$43.5 million and net income was US$37.3 million over the period. Adjusted EBITDA for the third quarter of 2025 was US$80.1 million.
- Average operating hashrate increased steadily from 40.91 EH/s in July to 44.85 EH/s in September and further improved to 46.09 EH/s in October, with efficiency surpassing 90%. This was primarily due to mining facility relocations, operational enhancements and miner hardware upgrades.
- A total of 1,930.8 BTC was mined over the third quarter, averaging 21.0 BTC per day, up 37.5% in total output and 36.0% in daily production compared with the second quarter of 2025. Average cost to mine, excluding depreciation of mining machines, was US$81,072 per BTC, with all-in costs of US$99,383 per BTC. As of the end of September 2025, the Company had mined 5,810 BTC since entering the bitcoin mining industry.
- The Company completed the termination of its ADR program and transitioned to a direct listing on the NYSE to optimize its capital structure, enhance corporate transparency, and align with its strategic focus.
Full article link: https://ir-image.cangoonline.com/ir-documents/2025-12-2-Cango-Inc-Reports-Third-Quarter-2025-Unaudited-Financial-Results.pdf
Investor Relations Contact
Juliet Ye, Head of Communications
Cango Inc.
Email: [email protected]
Source: https://coincu.com/press-release/cango-inc-reports-third-quarter-2025-unaudited-financial-results/
