Cango Inc., a leading company in bitcoin mining, has released its performance report for Q1 2025, confirming analysts' expectations.
Cango Inc. Overview
According to the report, the company's bitcoin mining revenue in Q1 2025 was RMB 1,046 million, which aligns with the estimates from Apollo Insights. Although an adjusted EBITDA loss was recorded, this was mainly due to volatility in bitcoin prices and expenses from the traditional automotive business.
Apollo Insights Analysis and Forecasts
The Apollo Insights report also highlighted a positive outlook for Cango's future profitability based on operational leverage in the bitcoin mining segment. Forecasts for 2025 revenues have been raised to RMB 5,173 million, reflecting higher expectations of bitcoin prices, partially offset by increased network difficulty.
Strategic Plans of Cango Inc.
Going forward, Cango plans to secure more favorable mining contracts, explore self-operation of its fleet of mining equipment, invest in low-cost clean energy projects in the Middle East and Australia, and develop the used car trading platform.
Cango Inc. demonstrates stable results in bitcoin mining, providing grounds for optimism about the company's future growth and development in a changing market.
