Cango Inc. Maintains Strong Mining Efficiency and Expands Bitcoin Holdings Amidst April Production Shift

SHANGHAI,May 7, 2025/PRNewswire/ -- Cango Inc. (NYSE: CANG), a leading bitcoin mining company, recently released itsApril 2025production update for its crypto mining operations.

In April 2025, Cango mined a total of 470.0 Bitcoins, an 11.3% decrease compared to 530.1 Bitcoins mined inMarch 2025. The average daily Bitcoin production was 15.7 in April, compared to 17.1 in March.

Despite the month-over-month production dip, Cango increased its total Bitcoin holdings, reaching 2,944.8 as ofApril 30, 2025, up from 2,474.8 at the end of March. The Company's deployed hashrate remained consistent at 32 EH/s, while the average operating hashrate was 29.9 EH/s, compared to 30.3 EH/s inMarch 2025.

"The production decline in April was mainly due to a significant surge in the global hashrate, marking its second-largest monthly increase ever recorded. Consequently, the mining difficulty rose by 8% compared to March,"saidJiayuan Lin, Chief Executive Officer of Cango,"Despite this short-term fluctuation in production volume, we remain firmly committed to our Bitcoin holding strategy. With the current value of our Bitcoin holdings at$279 million, we are confident that our strategic initiatives and ongoing operational enhancements will continue to generate long-term value for our stakeholders."

About Cango Inc.

Cango Inc. (NYSE: CANG) primarily operates a leading Bitcoin mining business. Cango has deployed its mining operation across strategic locations includingNorth America,Middle East,South America, andEast Africa. Cango expanded into the crypto assets market inNovember 2024, driven by the development in blockchain technology, increasing prevalence of crypto assets and its endeavor to diversify its business. Meanwhile, Cango has continued to operate the automotive transaction service inChinasince 2010, aiming to make car purchases simple and enjoyable. For more information, please visit:www.cangoonline.com.

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SOURCE Cango Inc.