Bitcoin miner Cango closes 2025 with reserves above 7,500 BTC amid rising mining output
Cango Inc. has reported higher bitcoin production in December, lifting its total holdings above 7,500 BTC as the miner closed out 2025 with what it framed as stable operations and a steady hashrate deployment.The New York Stock Exchange-listed company said it produced 569 bitcoin in December, up from 546.7 BTC in November, according to a mining operations update released on Monday. Average daily production also rose to 18.35 bitcoin, compared with 18.22 the previous month.Moreover, total bitcoin holdings reached 7,528.3 BTC as of the end of December, up from 6,959.3 BTC a month earlier. That stack is worth over $700 million at current prices, with BTC trading above $93,000 on Monday, The Block's price page shows. Cango said it continues to hold bitcoin for the long term and does not currently intend to sell any of its holdings.Cango's deployed hashrate remained unchanged at 50 exahashes per second in December, while average operating hashrate declined slightly to 43.36 EH/s from 44.38 EH/s in November. Nevertheless, the company attributed its increase in production to favorable network difficulty adjustments during the month.Hashrate is a measure of the total computing power dedicated to securing the Bitcoin network. In practical terms, it reflects how much computational effort miners are expending to find new blocks and earn bitcoin rewards. A higher hashrate typically means more machines are online or operating more efficiently, while short-term fluctuations can be driven by factors such as energy costs, maintenance, hardware uptime, or changes in network difficulty."Throughout 2025, Cango delivered strong and consistent operational growth," CEO Paul Yu said in the release. He added that higher daily production in December helped lift the company’s bitcoin reserves to bolster stable operating capacity.Yu also said a major shareholder had committed $10.5 million to increase its investment in Cango — a transaction expected to close in January 2026. The funding is intended to support improvements in mining efficiency and accelerate the company’s parallel push into energy infrastructure and AI compute services.Cango operates mining sites across more than 40 locations in North America, the Middle East, South America, and East Africa. The company entered bitcoin mining in late 2024 and has since expanded alongside its legacy international used car export business.The update follows Cango’s third-quarter earnings report, in which the company posted a sharp revenue increase driven by rising bitcoin mining output, as previously reported by The Block. Cango's stock has slumped almost 44% in the past year despite its BTC mining operations, according to Yahoo Finance data.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.