Cango Reports October Bitcoin Production, Reaches 6,400 BTC Holdings

Bitmain-affiliate Bitcoin miner Cango (NYSE: CANG) produced 602.6 bitcoins in October, down 2.3% from 616.6 in September, according to its latest monthly update.

The company held 6,412.6 bitcoins at month-end, up about 10% from 5,810 a month earlier. Average daily output was 19.44 bitcoins, compared with 20.55 in September.

Cango’s deployed hashrate remained at 50 exahashes per second (EH/s), while average operating hashrate rose to 46.09 EH/s from 44.85 EH/s. That places Cango–once an auto export business-based in China–firmly in the top Bitcoin

Chief Executive Paul Yu said Cango’s average operating hashrate exceeded 90% in October and its bitcoin holdings surpassed 6,000 BTC for the first time. He added that the company plans to complete a direct listing of its ordinary shares on the New York Stock Exchange this month, following the termination of its ADR program.

Cango entered the bitcoin mining business in November 2024 in an explosive fashion, purchasing Bitmain-facilities across North America in a deal that cemented Bitmain-leadership on the Nasdaq listed company. Since then, the firm has focused on increasing its Bitcoin holdings and hashrate efficiency, with limited deployments past the initial 50 EH/s purchased.