Cango Inc. closed out 2025 with a larger bitcoin balance after increasing its mining output in December, underscoring what the company describes as steady operations during a volatile year for the crypto sector.
The New York Stock Exchange-listed miner reported producing 569 bitcoin in December, up from 546.7 BTC in November, according to its latest mining operations update. Average daily production also edged higher, rising to 18.35 bitcoin from 18.22 the previous month.
Cango Inc.
That uptick pushed Cango’s total bitcoin holdings to 7,528.3 BTC by the end of December, compared with 6,959.3 BTC a month earlier. At current market prices, with bitcoin trading above $93,000, those reserves are valued at more than $700 million. The company said it continues to hold its bitcoin as a long-term asset and has no immediate plans to sell.
While production increased, Cango’s deployed hashrate remained flat at 50 exahashes per second (EH/s) in December. Its average operating hashrate slipped slightly to 43.36 EH/s, down from 44.38 EH/s in November. The company attributed the higher output to favorable adjustments in bitcoin network difficulty during the month rather than to additional computing power coming online.
Hashrate measures the total computing power used to secure the Bitcoin network and plays a central role in determining how often miners can successfully add new blocks and earn rewards. Short-term changes in operating hashrate are common and can reflect factors such as maintenance schedules, energy availability, or hardware performance. Network difficulty, which adjusts regularly, also influences how much output miners can generate from the same level of computing power.
Commenting on the results, CEO Paul Yu said Cango delivered “strong and consistent operational growth” throughout 2025. He noted that the increase in daily production in December helped lift the company’s bitcoin reserves and support what he described as stable operating capacity heading into the new year.
Yu also revealed that a major shareholder has committed an additional $10.5 million to increase its investment in Cango. The transaction is expected to close in January 2026. According to the company, the funding will be used to improve mining efficiency and support expansion into energy infrastructure and artificial intelligence computing services, which Cango is pursuing alongside its bitcoin operations.
Cango operates mining facilities across more than 40 locations spanning North America, the Middle East, South America, and East Africa. The company entered the bitcoin mining industry in late 2024, adding it to a business portfolio that also includes international used car exports.
The latest update follows Cango’s third-quarter earnings report, which showed a sharp increase in revenue driven largely by higher bitcoin mining output. Despite that growth, the company’s stock performance has lagged. Shares are down nearly 44% over the past year, according to data from Yahoo Finance, highlighting the gap that can exist between operational gains and investor sentiment in the crypto mining sector.
As 2025 comes to a close, Cango’s expanding bitcoin reserves and steady production suggest the company is positioning itself for long-term participation in the digital asset economy, even as it navigates market pressure and works to diversify its operations beyond mining alone.
