Cango Inc. Reports Robust Q1 2025 Revenue Growth Driven by Bitcoin Mining

An update from Cango ( (CANG) ) is now available.

Cango Inc. reported a significant increase in total revenues to RMB1.1 billion for the first quarter of 2025, primarily driven by its Bitcoin mining business which generated RMB1.0 billion. The company mined 1,541 Bitcoins during the quarter and maintained a strong balance sheet with cash and cash equivalents of RMB2.5 billion as of March 31, 2025. Despite the revenue surge, Cango reported a net loss of RMB207.4 million for the quarter, attributed to high operating costs and expenses associated with its mining operations. The company is focused on expanding its Bitcoin mining capabilities, aiming to increase its hashrate to 50 EH by the end of July 2025, and is exploring M&A opportunities to further scale operations.

Spark’s Take on CANG Stock

According to Spark, TipRanks’ AI Analyst, CANG is a Neutral.

Cango’s overall stock score reflects a mix of improved financial performance, solid valuation, and strategic growth in cryptocurrency mining. The strengths include significant margin improvements and low leverage, while risks involve revenue volatility and cash flow inconsistencies. Technical indicators suggest short-term strength, and the earnings call provides positive sentiment on strategic initiatives despite some challenges.

To see Spark’s full report on CANG stock, click here.

More about Cango

Cango Inc. (NYSE: CANG) is a prominent player in the Bitcoin mining industry, with operations strategically located across North America, the Middle East, South America, and East Africa. The company ventured into the crypto assets market in November 2024 to diversify its business, while also maintaining its automotive transaction services in China since 2010.

Average Trading Volume: 313,861

Technical Sentiment Signal: Buy

Current Market Cap: $452.5M

See more insights into CANG stock on TipRanks’ Stock Analysis page.