Mining is still very profitable!

Cango: In Q1, mining output was 1,541 bitcoins, generating revenue of 1 billion RMB

Cango, a company listed on the New York Stock Exchange, released its unaudited financial performance report for the first quarter of 2025, which disclosed:

1. Total revenue was 1.1 billion RMB (145.2 million USD), with the bitcoin mining business generating 1 billion RMB (144.2 million USD) this quarter;

2. Mining output was 1,541 bitcoins, with an average mining cost of 70,602.1 USD per bitcoin.

3. As of March 31, 2025, the total balance of cash and cash equivalents and short-term investments was 2.5 billion RMB (347.4 million USD). $BTC