Bitcoin mining company Cango announced that it generated nearly $100.5 million worth of Bitcoin in the two months following its complete transition to crypto mining.
The company mined a total of 954.5 Bitcoin (BTC) since going all-in on mining in early April. Of this impressive haul, 470 BTC were mined in April, with an additional 484.5 BTC mined in May. This significant production comes after Cango sold its legacy China operations to an entity associated with Bitmain, in a strategic move to exclusively focus on Bitcoin mining.
Earlier in May, Cango reported robust first-quarter results for 2025, having mined 1,541 BTC, valued at approximately $162 million at the time of publication.
Cango’s accelerated mining output is supported by its rapidly expanding operations. The company reported operating at an average hashrate of nearly 30 exahashes per second (EH/s) during April and May. Hashrate is a critical metric in Bitcoin mining, representing the number of cryptographic hashes a miner can compute per second. A higher hashrate directly increases the probability of solving a block and earning newly issued BTC under the proof-of-work consensus system.
