Cango Inc.

Cango is a Bitcoin mining company that also operates an online international automobile trading business. The company has been in the automotive industry since 2010. In recent years, Cango has diversified its business operations into crypto assets, with almost all current revenue derived from the crypto mining business. Cango commenced its crypto mining operations in November 2024, following a strategic restructuring that began in 2022. The company's transformation strategy focuses on "energy + computing power," recognizing the role of BTC/crypto mining in grid rebalancing and absorbing excess electricity generation. Cango acquired crypto mining machines from Bitmain to achieve its scale of computing power. As of December 31, 2025, Cango's deployed hash rate was 50 EH. In 2025, the company mined a total of 6,594.6 Bitcoins, averaging 18.07 Bitcoins mined per day. Cango's mining operations are conducted through third-party service providers that offer hosting, operation, and maintenance services for its mining machines. These mining machines are hosted in data centers across over 40 sites globally, spanning Asia, North America, Africa, and other regions. The plurality of these data centers are located in North America. In parallel with its crypto mining activities, Cango continues to operate its online international automobile trading business through AutoCango.com. Since November 2024, the company has also activated pilot projects in integrated energy solutions and distributed AI computing.