Bitcoin News Today: Cango Bitcoin Mining Output Jumps 44.5% in July After $256M Bitmain Expansion

Cango, the former Chinese auto financing firm, has seen a significant increase in Bitcoin production since shifting its focus entirely to digital asset mining. In July 2025, the company mined 650.5 BTC, a substantial jump from 450 BTC in June, according to Farside Investors. This production surge reflects Cango's intensified mining operations following its acquisition of Bitmain mining rigs in late 2024. The purchase, valued at $256 million and part of a broader $400 million investment strategy, secured 32 exahashes per second (EH/s) of hashrate, signaling Cango’s official pivot from its traditional business model to full-scale Bitcoin mining [1].

The move has placed Cango among the top 20 publicly traded Bitcoin holders, with a total holding of 4,529.7 BTC valued at approximately $512 million. This level of accumulation highlights the company's aggressive strategy to capitalize on the growing demand for Bitcoin as both a speculative and strategic asset. Cango’s shift appears to be paying off, particularly given that it mined 954.5 BTC in the first two months following its full transition into the crypto space in April and May 2025 [1].

Cango’s success in mining is part of a broader trend where corporations are increasingly diversifying into digital assets. The company's ability to leverage its existing infrastructure and digital asset management expertise has enabled a seamless transition into the Bitcoin mining sector. Despite operating from its headquarters in China—where Bitcoin mining was effectively banned in mid-2021—Cango has managed to navigate regulatory complexities by likely relocating operations to jurisdictions with more favorable policies.

The firm's Bitcoin mining activities have also contributed to a notable rebound in its stock performance. Although the company’s share price has experienced a year-to-date decline, it has surged 158% over the past 12 months, with much of the momentum starting after the announcement of its Bitcoin mining pivot [1]. This suggests that investors are increasingly viewing Cango’s corporate strategy through the lens of long-term digital asset potential rather than its former automotive finance roots.

As the market price of Bitcoin approaches $113,133 per BTC in early August 2025, the financial value of Cango’s newly mined assets will be subject to market volatility. A stable or rising BTC price could enhance the company's corporate treasury, while a decline might temper the immediate returns. Nonetheless, Cango’s increased mining output indicates a growing commitment to Bitcoin as a core component of its treasury strategy, potentially setting a precedent for other firms exploring similar digital asset integrations [2].

Sources:

[1] Cointelegraph - https://cointelegraph.com/news/cango-posts-massive-july-bitcoin-haul-boosting-corporate-treasury

[2] advfn.com - https://mx.advfn.com/bolsa-de-valores/COIN/BTCUSD/crypto-news/96566291/cango-posts-massive-july-bitcoin-haul-boostin

[3] CoinGecko - https://www.coingecko.com/en/coins/bitcoin/usd