Nov 3, 2025

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Cango to Trade Directly on NYSE, Ends Depositary Receipt Program

Cango Inc. mined 602.6 Bitcoin in October 2025, totaling 6,412.6 BTC by the month's end.
Average daily mining decreased to 19.44 BTC from September's 20.55 BTC.
Cango plans to hold Bitcoin long-term without selling and will terminate its American depositary receipt program on Nov. 14, transitioning to direct share trading on the NYSE from Nov. 17.

Mining Operations and Holdings Strategy

Average operating hashrate increased to 46.09 EH/s in October from 44.85 EH/s in September.
Maintained a deployed hashrate of 50 EH/s with over 90% operational efficiency across multiple regions.

Strategic Positioning for AI Expansion

CEO Paul Yu highlighted achievements positioning Cango to leverage opportunities in energy and AI.
Cango aims to balance Bitcoin mining with AI workloads, acquiring a facility in Georgia for $19.5 million to develop expertise.
Plans to launch a high-performance computing pilot focused on AI collaboration in early 2026.
The firm follows industry trends of diversifying into AI infrastructure, similar to peers like Galaxy Digital and CleanSpark.