Cango Stock Jumps 7.4% as Bitcoin Mining Revenue Hits $138.1 Million in Q2 2025—Is Growth Momentum Set to Continue?

Intraday Price Spike: Stock Climbs 7.4% on Robust Mining Results

Cango Inc. (NYSE:CANG) shares surged by 7.40% to $5.08 as of 11:39 AM, buoyed by the release of second-quarter 2025 financial results that showcased the company's impressive leap in Bitcoin mining revenue. Investors took notice as the stock added $0.35 on the day, propelled by key performance metrics and management's forward-looking commentary.

Bitcoin Mining Drives Revenue Surge—$138.1 Million in Q2

Cango reported total revenues of $139.8 million for the quarter ended June 30, 2025. Strikingly, $138.1 million of this was driven by the Bitcoin mining business—demonstrating just how thoroughly the company has pivoted toward the digital asset sector. A major strategic milestone was achieved with mining capacity soaring to 50 exahashes per second (EH/s), thanks to an 18 EH/s acquisition in June.

Operational Leverage: Adjusted EBITDA Hits $99.1 Million Despite One-Off Losses

The bottom line was affected by non-cash impairment and discontinued operations, both related to strategic repositioning rather than day-to-day underperformance. Adjusted EBITDA, a measure excluding these one-off charges, stood at a healthy $99.1 million—emphasizing the profitability of Cango's mining operations and strong cash generation after exiting China with a $352 million asset divestiture.

Scaling Fast: Mining Capacity Up 56% and Bitcoin Output Up 44% in July

Notably, Cango's aggressive scaling is evident: the 18 EH/s expansion brought the total mining capacity to 50 EH/s, representing a massive increase in just a single quarter. This boost in hashpower contributed to a 44% jump in Bitcoin production in July, suggesting that the operational leverage from recent acquisitions is starting to pay off. The company also acquired a 50 MW mining facility in Georgia, targeting reduced energy costs and future growth in energy-intensive computing (HPC) services.

Key Takeaways: Efficiency and Growth Define the Path Forward

Cango’s Q2 highlights strong top-line growth and capital efficiency, leveraging an asset-light approach to quickly ramp up capacity without locking up excessive capital in hardware. The high cost per mined Bitcoin is mitigated by lower depreciation expenses and quick scaling potential, giving the company flexibility as the sector evolves. Liquidity from China asset sales is already funding growth, providing a war chest for further acquisitions or organic expansion.

With the core Bitcoin mining business showing robust margins and operational discipline, Cango stands out as one of the few rapidly scaling miners. However, the path ahead depends on maintaining efficient operations, capitalizing on lower power costs, and riding Bitcoin’s price cycles. For now, the stock’s strong move and quarterly results reflect growing market confidence—but as always in the volatile crypto mining sector, vigilance is required.

Contact Information:

If you have feedback or concerns about the content, please feel free to reach out to us via email at support@marketchameleon.com.

About the Publisher - Marketchameleon.com:

Marketchameleon is a comprehensive financial research and analysis website specializing in stock and options markets. We leverage extensive data, models, and analytics to provide valuable insights into these markets. Our primary goal is to assist traders in identifying potential market developments and assessing potential risks and rewards.

NOTE: Stock and option trading involves risk that may not be suitable for all investors. Examples contained within this report are simulated and may have limitations. Average returns and occurrences are calculated from snapshots of market mid-point prices and were not actually executed, so they do not reflect actual trades, fees, or execution costs. This report is for informational purposes only, and is not intended to be a recommendation to buy or sell any security. Neither Market Chameleon nor any other party makes warranties regarding results from its usage. Past performance does not guarantee future results. Please consult a financial advisor before executing any trades. You can read more about option risks and characteristics at theocc.com.

The information is provided for informational purposes only and should not be construed as investment advice. All stock price information is provided and transmitted as received from independent third-party data sources. The Information should only be used as a starting point for doing additional independent research in order to allow you to form your own opinion regarding investments and trading strategies. The Company does not guarantee the accuracy, completeness or timeliness of the Information.