Cango 2025Q3 Financial Report: One Year Anniversary of Mining Enterprise Transformation, Revenue Up by 60.6% QoQ, Venturing into AI Computing Power.
By: theblockbeats.news|2025/12/02 03:15:57
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BlockBeats News, December 2, 2025: In the third quarter of 2025, Cango achieved a total revenue of 225 million USD (a 60.6% increase quarter-over-quarter), operating profit of 43.5 million USD, net profit of 37.32 million USD, marking a significant transition from losses to profits year-over-year.
As a strategic transformation milestone in its one-year anniversary as a Bitcoin mining enterprise, Cango's global deployment hash rate reached 50 EH/s, propelling it into the industry's leading ranks. In the third quarter, it mined a total of 1,930.8 Bitcoins (a 37.5% increase quarter-over-quarter), with a daily average of 21 Bitcoins, and a full cost per Bitcoin of 99,383 USD. Through equipment upgrades (introducing the T21/S21 series) and the acquisition of a 50-megawatt mining facility in Georgia, the hash rate efficiency surpassed 90%, with operational hash rate further increased to 46.09 EH/s in October.
In terms of AI hash power, the long-term direction is focused on a "green energy-driven global distributed AI hash power network", leveraging distributed operational experience and global energy layout to create a standardized GPU hash power resource pool, targeting the differentiated needs of small and medium enterprises. Additionally, pilot projects for new energy in Oman and Indonesia have been initiated, expected to be implemented within 1-2 years.
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