Cango 2025 Financial Report: Full-year total revenue approximately $680 million, Bitcoin mining revenue $675 million

Techub News, Cango released its unaudited financial report for the full year and fourth quarter of 2025. The company's total annual revenue was $688.1 million, with Bitcoin mining revenue accounting for $675.5 million. A total of 6,594.6 Bitcoins were mined throughout the year, averaging 18.07 per day. The full-year adjusted EBITDA was $24.51 million. Fourth-quarter revenue was $179.5 million, with 1,718.3 Bitcoins mined. However, due to the decline in Bitcoin price, a $338.3 million impairment loss on mining equipment, and fair value adjustments, the net loss from continuing operations for the full year was $452.8 million. The adjusted EBITDA for the fourth quarter was negative $156.3 million.

As of the end of 2025, the company held $41.23 million in cash and had long-term related-party debt of $557.6 million. In February of this year, it sold 4,451 Bitcoins to repay part of the debt and reduce financial leverage.