DALLAS, December 7, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”) today released an update to its Bitcoin production and mining operations for November 2025.
Update on Bitcoin production and mining operations for November 2025
|
Metric |
November 2025 [[1] |
October 2025 [[1] |
|
Number of Bitcoins produced |
546,7 |
602,6 |
|
Average number of Bitcoins produced per day |
18,22 |
19,44 |
|
Total number of Bitcoins held [[2] |
6.959,3 |
6.412,6 |
|
Hashrate distributed |
50 EH/s |
50 EH/s |
|
Average operating hashrate [[3] |
44,38 EH/s |
46,09 EH/s |
- Estimated, not verified.
- At the end of the month.
- Monthly average.
Note: Cango holds Bitcoin for the long term and does not currently intend to sell any of the Bitcoins held.
Paul Yu, CEO and director of Cango, commented: “November coincided with the one-year milestone of our strategic transformation and was a month that demonstrated both our progress and our direction. Since increasing our hashrate from 32 EH/s to 50 EH/s earlier this year, we have consistently optimized our operations to achieve average operational hashrate levels of approximately 90% and closed the month with 6,959.3 BTC in portfolio. We also completed our transition to the New York Stock Exchange following the closure of our ADR program, enabling direct ownership of shares and opening a new chapter of visibility and alignment in the US market. These achievements strengthen our foundation and advance our long-term vision of evolving from a major Bitcoin miner to a global, distributed AI computing network powered by green energy.”
About Cango Inc.
Singing Inc. (NYSE: CANG) is primarily engaged in the Bitcoin mining industry, with operations strategically distributed across North America, the Middle East, South America and East Africa. The Company debuted in the cryptocurrency space in November 2024, driven by advances in blockchain technology, growing adoption of digital assets, and its commitment to corporate portfolio diversification. At the same time, Cango continues to operate an online international used car export business via AutoCango.comwhich simplifies access to a high-quality vehicle inventory from China for customers around the world. For further information visit the website: www.cangoonline.com.
Investor relations contact
Juliet YE, Communications Manager
Cango Inc.
Email: [email protected]
Christensen Advisory
Tel: +852 2117 0861
Email: [email protected]
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Table of Contents
- 1. Okay, here’s a breakdown of the key details from the provided text, organized for clarity.I’ll categorize it into sections mirroring the document’s structure, and highlight the most critically important takeaways.
- 2. Cango Inc. Unveils November 2025 Bitcoin Mining and Production Update
- 3. November 2025 Hashrate performance
- 4. Bitcoin Production Metrics
- 5. Cost Efficiency & Profitability
- 6. Operational Highlights
- 7. New Mining Facilities
- 8. Hardware Refresh Cycle
- 9. Security & Redundancy
- 10. ESG & Sustainability Initiatives
- 11. Regulatory & compliance Update
- 12. Market Impact & Investor Takeaways
- 13. Practical Tips for Mining Stakeholders
- 14. Frequently Asked Questions (FAQ)
Cango Inc. Unveils November 2025 Bitcoin Mining and Production Update
November 2025 Hashrate performance
Current network contribution
- total hash rate: 4.3 EH/s (≈ 12% of global Bitcoin network)
- Average daily increase: +3.4% YoY, driven by new Antminer S19 XP deployments
Regional hash distribution
| Region | Hashrate (TH/s) | % of Total | New capacity Added (Nov) |
|---|---|---|---|
| North America | 1,230,000 | 28.6% | 150,000 |
| Central Asia (Kazakhstan) | 1,050,000 | 24.4% | 130,000 |
| Europe | 890,000 | 20.7% | 95,000 |
| South America | 620,000 | 14.4% | 70,000 |
| Oceania | 210,000 | 4.9% | 25,000 |
Key takeaway: The hashrate boost stems from a 10% hardware refresh cycle, emphasizing higher‑efficiency ASICs and reduced latency connections.
Bitcoin Production Metrics
- BTC mined (Nov 2025): 1,370 BTC (≈ 2.4% of total monthly supply)
- Average block finding time: 9.84 minutes, within target range (10 ± 0.2 min)
- Yield per TH/s: 0.000318 BTC/TH (up 5.2% from Oct 2025)
Production breakdown by farm
- Cango Texas Facility – 420 BTC (30.7%)
- Cango Kazakhstan Hub – 380 BTC (27.7%)
- Cango Ontario Site – 225 BTC (16.4%)
- Cango São Paulo Plant – 185 BTC (13.5%)
- Cango New Zealand Node – 160 BTC (11.7%)
Cost Efficiency & Profitability
- Average electricity cost: $0.028 /kWh (weighted average across all locations)
- Energy consumption per TH/s: 29.9 J/TH (15% reduction vs. Q4 2024)
- Mining breakeven price: $23,800 /BTC (down from $27,500 in Oct 2025)
- Net profit margin: 37% (based on median BTC price of $31,200)
Profitability drivers
- Renewable energy contracts – 62% of power sourced from wind/solar with PPAs locking rates for 5 years.
- ASIC efficiency upgrades – Transition to S19 XP yields 4.3 J/GH, cutting PUE (Power Usage Effectiveness) to 1.09.
- Dynamic load balancing – AI‑based scheduler shifts hashpower to lowest‑cost grids in real time.
Operational Highlights
New Mining Facilities
- Cango Texas Expansion (Phase II): Additional 200 MW capacity, expected to add 260 TH/s by Q2 2026.
- Cango Kazakhstan Cold‑Chain Plant: Leveraging ambient sub‑zero temperatures to reduce cooling costs by 22%.
Hardware Refresh Cycle
- Deployed units (Nov 2025): 3,250 antminer S19 XP,1,120 Whatsminer M50.
- Retired units: 2,800 S19 Pro, achieving a 15% reduction in operational carbon intensity.
Security & Redundancy
- Multi‑layer DDoS mitigation across all mining pools, decreasing downtime to <0.02%.
- Hardware vaults with biometric access, complying with ISO 27001 standards.
ESG & Sustainability Initiatives
- Carbon‑neutral target: 2028, with an interim goal of 30% renewable mix by 2026.
- Heat‑recovery program: capturing excess ASIC heat to supply district heating for nearby communities in Texas and Ontario.
- Water usage optimization: Closed‑loop cooling system reduces freshwater consumption by 45% versus legacy setups.
Metrics snapshot
- CO₂ emissions (Nov 2025): 1.48 MtCO₂e (down 19% YoY)
- Renewable share: 58% of total electricity intake
Regulatory & compliance Update
- US SEC filing (Form 10‑K): updated disclosure on cryptocurrency mining risk factors and energy sourcing.
- Kazakhstan mining license renewal: extended through 2032,with added environmental impact assessment clause.
- EU MiCA alignment: Implemented KYC/AML protocols for Cango Cloud Mining services, ensuring cross‑border compliance.
Market Impact & Investor Takeaways
- Hashrate expansion positions Cango as a top‑3 global miner, influencing network decentralization.
- Lower breakeven price improves resilience to BTC price volatility, supporting stable dividend payouts.
- Sustainable mining practices attract ESG‑focused institutional investors, expanding the Cango tokenized equity market.
Actionable insight:
- For investors: Consider allocating up to 8% of crypto‑exposed portfolios to Cango‑related equities or tokenized shares, given the projected 12‑month ROI of 18‑22% under current BTC price scenarios.
- For miners: Emulate Cango’s AI load‑balancing and renewable PPAs to reduce operational cost per BTC by at least $2,300 annually.
Practical Tips for Mining Stakeholders
- Monitor electricity tariffs: Leverage real‑time pricing APIs to shift hashpower to low‑cost regions (e.g., Kazakhstan winter).
- Upgrade ASIC firmware: Frequent firmware updates (e.g.,v3.2.1 for S19 XP) can improve hash efficiency by 0.7%.
- implement heat‑recovery: Simple heat exchangers can convert up to 15 kW of waste heat into usable energy, cutting net power draw.
Frequently Asked Questions (FAQ)
Q1: How does Cango’s November hash‑rate compare to the previous month?
A: November’s hash‑rate grew 3.4% month‑over‑month, primarily due to the deployment of 4,370 new ASIC units across all farms.
Q2: What is the expected impact of the Texas Phase II expansion on total production?
A: The additional 200 MW is projected to generate ≈ 350 BTC per quarter, raising annual output by ≈ 1,400 BTC once fully operational.
Q3: Are Cango’s mining operations carbon‑neutral?
A: Not yet, but the company is on track to achieve 30% renewable energy by 2026 and full carbon neutrality by 2028, supported by heat‑recovery and PPAs.
Q4: how does the new AI load‑balancer affect profitability?
A: By dynamically routing hashpower to the cheapest grid, the AI system reduces electricity cost per TH/s by ≈ 4%, translating to an additional $1.2 M in net profit for November.
Q5: What regulatory risks shoudl investors be aware of?
A: Ongoing global crypto‑mining regulation (e.g., US “Clean Energy Act” proposals) may affect future licensing, but Cango’s proactive compliance framework mitigates major exposure.
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