Bitcoin Miner Cango Closes 2025 with Over 7,500 BTC in Reserves Amid Rising Output

Cango Inc. (CANG) Analysis: Bitcoin Holdings, Investment, and Market Impact

Cango Inc. (CANG) has closed 2025 with Bitcoin reserves surpassing 7,500 BTC, following strong mining output in December. The company produced 569 BTC in December, an increase from 546.7 BTC in November according to data. Its hashrate remained stable at 50 exahashes per second (EH/s) for the month according to reports.

The miner also announced a $10.5 million investment from Enduring Wealth Capital Limited (EWCL), with the transaction expected to close in January 2026 according to Seeking Alpha. The investment will fund hashrate efficiency improvements, mining hardware upgrades, and energy solutions for AI computing according to the announcement.

Cango's total Bitcoin holdings now exceed $700 million in value, with the stock down nearly 44% over the past year according to reports.

Why Did Cango's Bitcoin Holdings Rise?

Cango reported 569 BTC mined in December, up from 546.7 BTC in November, pushing total holdings to 7,528.3 BTC as of December 31 according to company data. The company attributes the growth to favorable network difficulty adjustments during the month according to analysis.

Cango operates mining sites in over 40 locations across North America, the Middle East, South America, and East Africa according to the company's filings.

How Did the Investment Affect Ownership and Voting Power?

The $10.5M investment from EWCL includes 7 million Class B ordinary shares at $1.50 per share, increasing EWCL's ownership in Cango from 2.81% to 4.69% according to the announcement. Class B shares carry 20 voting rights each, so EWCL's voting power will rise from 36.68% to 49.61% according to the transaction details.

The transaction is subject to New York Stock Exchange approval and expected to close in January 2026 according to company filings.

What Are the Strategic Implications of the Investment?

Cango CEO Paul Yu said the investment will support 2026 goals, including hashrate efficiency, mining equipment upgrades, and strategic asset acquisitions according to company statements. The firm also plans to expand into energy infrastructure and AI compute services according to strategic plans.

Cango currently holds Bitcoin for the long term and has no immediate plans to sell its holdings according to company guidance.

Market Reactions and Future Plans

Cango's stock rose 4.4% in premarket trading after the investment announcement according to market data. The company's Q3 2025 earnings showed a revenue increase driven by higher Bitcoin output according to financial reports.

Meanwhile, Hut 8 and other miners have also expanded into AI and HPC, with Hut 8 securing a $200 million credit facility and a major deal with Fluidstack for AI data center energy according to industry reports.

BitVentures Limited also entered the digital assets space, acquiring mining fleets and hosting capacity to support Bitcoin and altcoin operations according to company announcements.

Cango's stock remains under pressure despite its mining expansion, with the firm balancing growth initiatives with long-term Bitcoin holdings according to market analysis.