Shanghai, China – August 5, 2025 — Chinese tech firm Cango Inc. has quickly emerged as a major player in the Bitcoin mining industry, producing 954.5 BTC in April and May 2025 alone, according to data reported by Cointelegraph. The impressive output comes just months after the company completed its full transition from auto financing to Bitcoin mining.
As of the end of May, Cango holds 4,529.7 BTC, valued at approximately $512 million, placing it firmly among the top 20 publicly traded Bitcoin-holding companies. Industry analysts note that Cango is now nearing the levels of notable crypto-holding firms such as GameStop and ProCap BTC.
This surge in Bitcoin production is largely attributed to the company’s $256 million acquisition of mining rigs from Bitmain, securing a formidable 32 exahashes per second (EH/s) of hashrate. The mining equipment deal, announced in November 2024, was part of a broader $400 million strategic investment aimed at repositioning the company within the rapidly expanding digital asset space.
“We leveraged our existing infrastructure and digital asset expertise to make this transition as efficient and impactful as possible,” a Cango spokesperson said.
Strategic Pivot Draws Industry Attention
Cango’s dramatic pivot has spotlighted China’s evolving role in the global crypto mining industry, particularly as regulatory pressures ease and infrastructure matures. While the company’s year-to-date stock performance remains negative, its 12-month rally of 158% reflects strong investor confidence in its digital asset strategy.
The pivot comes amid a period of heightened activity in the mining sector, even as Bitcoin’s mining difficulty hit an all-time high earlier this year. However, projections indicate a potential decrease in mining difficulty in August, potentially boosting profits for companies like Cango.
Looking Ahead
With a growing BTC reserve and expanding hashrate capacity, Cango is positioned to continue climbing the ranks of institutional Bitcoin holders. Analysts see this as a strategic long-term move that aligns with global trends toward digital asset adoption.
About Cango Inc.:
Founded as an automotive financing company, Cango Inc. has reinvented itself as a key participant in the Bitcoin mining industry, leveraging years of experience in digital infrastructure and financial services to support its transformation into a crypto-focused enterprise.
x
