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Cango ( (CANG) ) just unveiled an update.
On June 27, 2025, Cango Inc. announced the completion of its acquisition of crypto mining assets, which was settled through the issuance of 146,670,925 Class A ordinary shares. This acquisition, initially announced on November 6, 2024, involves on-rack crypto mining machines with a total hashrate of 18 Exahash per second. The closing of this transaction marks a significant step in Cango’s expansion in the crypto asset space, with the mining machines hosted in data centers primarily located in the U.S. This move is expected to bolster Cango’s growth and operational capabilities in the industry.
Spark’s Take on CANG Stock
According to Spark, TipRanks’ AI Analyst, CANG is a Neutral.
Cango’s overall score reflects improved financial performance and revenue growth in Bitcoin mining, but is tempered by valuation concerns, operational challenges, and technical indicators suggesting limited near-term momentum.
To see Spark’s full report on CANG stock, click here.
More about Cango
Cango Inc. is primarily engaged in the Bitcoin mining business with operations strategically deployed across North America, the Middle East, South America, and East Africa. The company entered the crypto asset space in November 2024, driven by advancements in blockchain technology and the growing adoption of digital assets. Additionally, Cango operates an online international used car export business through AutoCango.com, facilitating global access to high-quality vehicle inventory from China.
Average Trading Volume: 327,715
Technical Sentiment Signal: Buy
Current Market Cap: $451.5M
For an in-depth examination of CANG stock, go to TipRanks’ Overview page.