Cango Inc. (NYSE: CANG) released its Bitcoin production and mining update for October 2025 on Nov. 3. The company produced 602.6 BTC during the month, averaging 19.44 per day. By month-end, total Bitcoin holdings reached 6,412.6 BTC, up from 5,810 BTC in September.
Hashrate Stats: 50 EH/s Deployed, 46.09 EH/s Average Operating
Deployed hashrate held steady at 50 EH/s, while average operating hashrate climbed to 46.09 EH/s from September's 44.85 EH/s. CEO and Director Paul Yu noted that average operating hashrate utilization exceeded 90%, calling it evidence of operational maturity as the company nears one year since its strategic pivot.
Strategic Moves: ADR Program Terminated, NYSE Direct Listing Ahead
In October, Cango announced the termination of its ADR program and plans to directly list its ordinary shares on the NYSE, expected to close in November. Yu said this move "further reinforces our commitment to operating as a U.S.-centric organization." The company entered crypto assets in November 2024, with mining operations spanning North America, the Middle East, South America, and East Africa. Cango also continues to run an online used-car export business via AutoCango.com.
Cango said it holds Bitcoin for the long term and has no current intention to sell. Yu believes the company's operational and financial milestones position it to capture value from emerging opportunities in energy and AI.