{"id":40129,"date":"2025-12-02T16:14:00","date_gmt":"2025-12-02T09:14:00","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=40129"},"modified":"2025-12-02T16:14:00","modified_gmt":"2025-12-02T09:14:00","slug":"cango-inc-reports-third-quarter-2025-unaudited-financial-results","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=40129","title":{"rendered":"Cango Inc. Reports Third Quarter 2025 Unaudited Financial Results"},"content":{"rendered":"<table border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2675436\/CANG_LOGO_Logo.jpg?p=medium600\" border=\"0\" alt=\"\" title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">DALLAS<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Dec. 2, 2025<\/span><\/span> \/PRNewswire\/ &#8212; On <span class=\"xn-chron\">December 1<\/span>, Cango Inc. (NYSE: CANG) (&#8220;Cango&#8221; or the &#8220;Company&#8221;) announced its unaudited financial results for the third quarter ended <span class=\"xn-chron\">September 30, 2025<\/span>.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<\/div>\n<p><b>Third Quarter 2025 Financial and Operational Highlights<\/b><\/p>\n<ul type=\"disc\">\n<li>Total revenues were <span class=\"xn-money\">US$224.6 million<\/span> in the third quarter of 2025, an increase of 60.6% compared with the second quarter of 2025. Revenue from the\u00a0bitcoin mining business in the third quarter of 2025 was <span class=\"xn-money\">US$220.9 million<\/span>.<\/li>\n<li>Operating income was <span class=\"xn-money\">US$43.5 million<\/span> and net income was <span class=\"xn-money\">US$37.3 million<\/span> over the period. Adjusted EBITDA for the third quarter of 2025 was <span class=\"xn-money\">US$80.1 million<\/span>.<\/li>\n<li>Average operating\u00a0hashrate 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.<\/li>\n<li>A total of 1,930.8 BTC was mined over the third quarter, averaging\u00a021.0 BTC\u00a0per day, up\u00a037.5% in total output and 36.0%\u00a0in daily production\u00a0compared with the second quarter of 2025.\u00a0Average cost to mine, excluding depreciation of mining machines, was\u00a0US$81,072\u00a0per BTC, with all-in costs of <span class=\"xn-money\">US$99,383<\/span> per BTC.\u00a0As of the end of <span class=\"xn-chron\">September 2025<\/span>, the Company had mined 5,810 BTC since entering the bitcoin mining industry.<\/li>\n<li>The Company completed the termination of its\u00a0ADR program and transitioned to a direct listing on the NYSE to optimize its capital structure, enhance corporate transparency, and align with its strategic focus.<\/li>\n<\/ul>\n<p>Mr. <span class=\"xn-person\">Paul Yu<\/span>, Chief Executive Officer of Cango, said, &#8220;This quarter marks a significant milestone. It&#8217;s been one year since our strategic transformation into a bitcoin miner. During the third quarter, we remained focused on our core mining operations, further strengthening Cango&#8217;s position as a scaled and operationally disciplined bitcoin miner. Specifically, we mined 1,930.8 BTC, averaging 21.0 BTC per day. While consolidating our core business, we also clarified our long-term strategy: building a global, distributed AI compute network powered by green energy, with bitcoin mining as the practical on-ramp toward our energy and compute ambitions. In the near term, we will continue to closely monitor market dynamics, manage our deployed output, and explore partnership models to mitigate market risks and enhance operating stability.&#8221;<\/p>\n<p>Full article link: <a href=\"https:\/\/ir-image.cangoonline.com\/ir-documents\/2025-12-2-Cango-Inc-Reports-Third-Quarter-2025-Unaudited-Financial-Results.pdf\" target=\"_blank\" rel=\"nofollow\">https:\/\/ir-image.cangoonline.com\/ir-documents\/2025-12-2-Cango-Inc-Reports-Third-Quarter-2025-Unaudited-Financial-Results.pdf<\/a><\/p>\n<p><b>Investor Relations Contact<br \/><\/b><span class=\"xn-person\">Juliet Ye<\/span>, Head of Communications<br \/>Cango Inc.<br \/>Email: <a href=\"mailto:ir@cangoonline.com\" target=\"_blank\" rel=\"nofollow\">ir@cangoonline.com<\/a>\u00a0<\/p>","protected":false},"excerpt":{"rendered":"<p><!-- wp:html --><\/p>\n<table border=\"0\" cellspacing=\"10\" cellpadding=\"5\" align=\"right\">\n<tbody>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/2675436\/CANG_LOGO_Logo.jpg?p=medium600\" border=\"0\" alt=\"\" title=\"logo\" hspace=\"0\" vspace=\"0\" width=\"118\" \/><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span class=\"legendSpanClass\"><span class=\"xn-location\">DALLAS<\/span><\/span>, <span class=\"legendSpanClass\"><span class=\"xn-chron\">Dec. 2, 2025<\/span><\/span> \/PRNewswire\/ &#8212; On <span class=\"xn-chron\">December 1<\/span>, Cango Inc. (NYSE: CANG) (&#8220;Cango&#8221; or the &#8220;Company&#8221;) announced its unaudited financial results for the third quarter ended <span class=\"xn-chron\">September 30, 2025<\/span>.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\">\n<\/div>\n<p><b>Third Quarter 2025 Financial and Operational Highlights<\/b><\/p>\n<ul type=\"disc\">\n<li>Total revenues were <span class=\"xn-money\">US$224.6 million<\/span> in the third quarter of 2025, an increase of 60.6% compared with the second quarter of 2025. Revenue from the\u00a0bitcoin mining business in the third quarter of 2025 was <span class=\"xn-money\">US$220.9 million<\/span>.<\/li>\n<li>Operating income was <span class=\"xn-money\">US$43.5 million<\/span> and net income was <span class=\"xn-money\">US$37.3 million<\/span> over the period. Adjusted EBITDA for the third quarter of 2025 was <span class=\"xn-money\">US$80.1 million<\/span>.<\/li>\n<li>Average operating\u00a0hashrate 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.<\/li>\n<li>A total of 1,930.8 BTC was mined over the third quarter, averaging\u00a021.0 BTC\u00a0per day, up\u00a037.5% in total output and 36.0%\u00a0in daily production\u00a0compared with the second quarter of 2025.\u00a0Average cost to mine, excluding depreciation of mining machines, was\u00a0US$81,072\u00a0per BTC, with all-in costs of <span class=\"xn-money\">US$99,383<\/span> per BTC.\u00a0As of the end of <span class=\"xn-chron\">September 2025<\/span>, the Company had mined 5,810 BTC since entering the bitcoin mining industry.<\/li>\n<li>The Company completed the termination of its\u00a0ADR program and transitioned to a direct listing on the NYSE to optimize its capital structure, enhance corporate transparency, and align with its strategic focus.<\/li>\n<\/ul>\n<p>Mr. <span class=\"xn-person\">Paul Yu<\/span>, Chief Executive Officer of Cango, said, &#8220;This quarter marks a significant milestone. It&#8217;s been one year since our strategic transformation into a bitcoin miner. During the third quarter, we remained focused on our core mining operations, further strengthening Cango&#8217;s position as a scaled and operationally disciplined bitcoin miner. Specifically, we mined 1,930.8 BTC, averaging 21.0 BTC per day. While consolidating our core business, we also clarified our long-term strategy: building a global, distributed AI compute network powered by green energy, with bitcoin mining as the practical on-ramp toward our energy and compute ambitions. In the near term, we will continue to closely monitor market dynamics, manage our deployed output, and explore partnership models to mitigate market risks and enhance operating stability.&#8221;<\/p>\n<p>Full article link: <a href=\"https:\/\/ir-image.cangoonline.com\/ir-documents\/2025-12-2-Cango-Inc-Reports-Third-Quarter-2025-Unaudited-Financial-Results.pdf\" target=\"_blank\" rel=\"nofollow\">https:\/\/ir-image.cangoonline.com\/ir-documents\/2025-12-2-Cango-Inc-Reports-Third-Quarter-2025-Unaudited-Financial-Results.pdf<\/a><\/p>\n<p><b>Investor Relations Contact<br \/><\/b><span class=\"xn-person\">Juliet Ye<\/span>, Head of Communications<br \/>Cango Inc.<br \/>Email: <a href=\"mailto:ir@cangoonline.com\" target=\"_blank\" rel=\"nofollow\">ir@cangoonline.com<\/a>\u00a0<\/p>\n<p><!-- \/wp:html --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[5,7],"tags":[],"class_list":["post-40129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cision-pr-newswire","category-cision-pr-newswire-en"],"_links":{"self":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/40129","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=40129"}],"version-history":[{"count":0,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=\/wp\/v2\/posts\/40129\/revisions"}],"wp:attachment":[{"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=40129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=40129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thaipropertynews.com\/feeds\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=40129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}