Cango Inc. Announces February 2025 Production Update for Crypto Mining Business

Core Insights - Cango Inc. has reported its production update for its crypto mining business for February 2025, indicating a decrease in Bitcoin production compared to January 2025 [1][2]. Production Metrics - The number of Bitcoins produced in February 2025 was 472.7, down from 538.2 in January 2025, reflecting a decrease of approximately 12.1% [2]. - The average number of Bitcoins produced per day in February was 16.9, compared to 17.4 in January, showing a decline of about 2.9% [2]. - The total number of Bitcoins held by the company at the end of February was 1,944.7, an increase from 1,472.0 at the end of January, representing a growth of approximately 32% [2]. - The deployed hashrate remained stable at 32 EH/s for both February and January, while the average operating hashrate decreased slightly from 30.1 EH/s in January to 29.7 EH/s in February [2]. Company Overview - Cango Inc. is a leading automotive transaction service platform in China, established in 2010, and headquartered in Shanghai [3]. - The company connects various participants in the automotive industry, including car buyers, dealers, and financial institutions, and has developed a comprehensive automotive supply chain ecosystem [3]. - In recent years, Cango has diversified its operations to include overseas crypto assets, expanding beyond its core automotive services [3].