Formerly a Chinese auto loan financing company, Bitcoin miner Cango Inc. (Cango) recently announced its unaudited financial results for Q4 and the full year of 2025. As its first full year transitioning into a Bitcoin mining business, Cango reported a net loss for 2025, affected by operational transformation and cryptocurrency market volatility. Its stock price has fallen more than 50% so far this year.
Bitcoin Mining Output Surpasses 6,500 Coins in 2025
According to the financial report, Cango’s total revenue for 2025 reached $688 million, with $675 million coming from its core Bitcoin mining operations. The company mined a total of 6,594 Bitcoins during the year, averaging about 18 coins per day. In terms of profitability, adjusted EBITDA for the year was $24.5 million; however, due to non-recurring transformation costs, impairment of mining equipment, and fair value changes in Bitcoin assets, the company recorded a net operating loss of approximately $452 million.
Sold 4,451 Bitcoins in 2025
In Q4 2025, Cango’s total revenue was $179 million, with 1,718.3 Bitcoins mined in that quarter. Due to the decline in Bitcoin prices leading to fair value losses (about $171 million) and impairment of mining equipment (around $81.4 million), operating costs increased significantly in Q4. The quarter ended with a net loss of $285 million. To reduce overall financial leverage, the company sold 4,451 Bitcoins in February 2026 and spent approximately $1.2 million in cash to repurchase 890,155 Class A common shares.
Cango’s Stock Price Has Halved This Year
Cango’s stock (NYSE: CANG) has fallen 52.83% so far this year, dropping from over $1.60 at the start of the year. Following the release of its financial results and AI transformation plans, the stock has shown signs of recovery, with a 5% increase in a single day and a 12.32% rise over the past five days.
This article about Bitcoin miner Cango selling 4,000 Bitcoins and the decline in coin prices leading to operational losses was first published by Chain News ABMedia.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
