Bitcoin News Today: Cango Bitcoin Mining Output Surges 44.5% in July Following Strategic Shift

Cango Inc. (CANG) has significantly increased its Bitcoin mining output in July 2025, adding 650.5 BTC to its corporate treasury, a sharp rise from 450 BTC mined in June. The surge in production reflects the company’s strategic shift to full-time Bitcoin mining following its divestiture of its auto financing business [1]. The company has now mined a total of 954.5 BTC in April and May, marking the first two months after its full transition into the mining space.

Cango’s Bitcoin holdings now total 4,529.7 BTC, valued at approximately $512 million, placing it among the top 20 publicly traded companies holding Bitcoin. The company’s acquisition of 32 exahashes per second (EH/s) of hashrate from Bitmain, part of a broader $400 million investment strategy, has been instrumental in scaling its mining capacity. This has allowed Cango to leverage its existing infrastructure and digital asset management expertise to pivot into a full-fledged miner.

Farside Investors, a leading crypto analytics firm, has added Cango to its miner dashboard while removing Hut 8 due to insufficient production disclosures. Cango’s transparency and growing output highlight its credibility in the mining sector. The company’s Bitcoin production figures indicate a strong ramp-up in operations, with industry observers noting that it is approaching the ranks of well-known Bitcoin holders such as GameStop and ProCap BTC.

Despite a recent dip in its share price and a negative year-to-date performance, Cango’s stock has surged by 158% over the past 12 months. This momentum began in late 2024 with the announcement of its pivot into Bitcoin mining, which has since been validated by strong production figures and treasury growth.

Cango’s headquarters remain in China, a country that imposed a de facto ban on Bitcoin mining in mid-2021. However, the company’s strategic shift demonstrates the growing appeal of Bitcoin mining among corporations seeking to diversify their treasuries and hedge against economic uncertainties. The recent increase in mining output positions Cango as a key player in the digital asset sector, with tangible returns emerging early in its mining operations.

The Cointelegraph report provides a direct account of Cango’s Bitcoin production, offering factual data on its mining achievements without speculative forecasts or market assumptions. This clarity supports a straightforward analysis of the company’s transition and performance in the Bitcoin mining space [1].

Source: [1] Cango posts 'massive' July Bitcoin haul, boosting corporate treasury (https://cointelegraph.com/news/cango-posts-massive-july-bitcoin-haul-boosting-corporate-treasury)