Cango's first quarter revenue reached 1.1 billion yuan, with BTC mining becoming the main source of revenue According to PR Newswire, Cango Inc. (NYSE: CANG) achieved unaudited revenue of RMB 1.1 billion (approximately USD 145 million) in the first quarter of 2025, a significant year-on-year increase, mainly due to its Bitcoin mining business launched in November 2024, with a single quarter mining revenue of RMB 1 billion and a total of 1541 bitcoins produced. The company implements a "mining+holding" strategy, with a current computing power of 32 EH/s, and is expected to increase to 50 EH/s by the end of July.