Cango Inc ( (CANG) ) has released its Q2 earnings. Here is a breakdown of the information Cango Inc presented to its investors.
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Cango Inc., a company primarily engaged in Bitcoin mining, operates across various regions including North America and the Middle East, and also runs an online international used car export business. In its latest earnings report, Cango Inc. highlighted significant growth in its Bitcoin mining operations, reporting total revenues of RMB1.0 billion for the second quarter of 2025, largely driven by its Bitcoin mining business which generated RMB989.4 million. The company mined a total of 1,404.4 Bitcoins during the quarter, despite facing a net loss due to strategic divestitures and non-cash impairment losses. Key financial metrics from the report include an adjusted EBITDA of RMB710.1 million, reflecting a strong performance in its core operations. The company completed a strategic divestiture of its China-based assets, generating substantial cash proceeds, and acquired 18 EH/s of mining capacity, enhancing its operational scale. Looking ahead, Cango Inc. plans to optimize its mining capacity and develop its energy and high-performance computing capabilities, aiming to create a dynamic platform that integrates Bitcoin mining with energy infrastructure for sustainable growth.