Cango Inc. Reports Second Quarter 2025 Unaudited Financial Results

HONG KONG , Sept. 5, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) today announced its unaudited financial results for the second quarter ended June 30, ￰1￱ and Operational Highlights As of June 30, 2025 , the company’s total mining capacity reached 50 EH/s, primarily driven by the acquisition of 18 EH/s in June 2025 . Furthermore, in May, Cango completed the divestiture of its China -based assets for US$352 million , generating substantial liquidity to support ongoing strategic ￰2￱ revenues were US$139.8 million during the period, with the Bitcoin mining business generating revenue of US$138.1 ￰3￱ EBITDA was US$99.1 million during the period. A total of 1,404.4 Bitcoins were mined during the ￰4￱ cost to mine, excluding depreciation of mining machines, was US$83,091 per Bitcoin, with all-in costs of US$98,636 per ￰5￱ of the end of June 2025 , the Company had mined 3,879.2 Bitcoins since entering the Bitcoin mining ￰6￱ net loss for the period was mainly attributable to the one-off loss on discontinued operations and the non-cash impairment loss from mining equipment contracted last November and settled via equity in June of this year—triggered by the significant appreciation in Cango’s share price between signing and ￰7￱ charges related to the Company’s strategic steps rather than operational ￰8￱ the impairment and the one-off loss from discontinued operations, adjusted EBITDA stood at US$99.1 million during the period, demonstrating the strength and profitability of the core Bitcoin mining ￰9￱ Yu , CEO of Cango, said, “This quarter marks a significant milestone as we report our first full quarter following our strategic ￰10￱ just nine months, we’ve established ourselves as one of the largest Bitcoin miners globally, supported by our asset-light strategy that enables quick scaling with minimal upfront ￰11￱ this approach incurs higher cash costs per Bitcoin, our lower depreciation expenses ensure competitive all-in costs and strong capital ￰12￱ recent acquisition of 18 EH/s increased our total mining capacity to 50 EH/s, contributing to a 44% increase in Bitcoin production in ￰13￱ growth underscores the impact of our expanded operations and supports further scaling through organic initiatives and strategic acquisitions.

Additionally, our acquisition of 50 MW mining facility in Georgia enhances our energy security and lowers power costs, providing operational expertise for future HPC and energy initiatives.” Full article link: ￰0￱ Investor Relations Contact Email: ir@cangoonline. com