Cango released its 2025 financial report: total revenue was 688.1 million USD, and a total of 6,594.6 bitcoins were mined throughout the year
By: rootdata|2026/03/17 19:22:53
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According to SeekingAlpha, btc-42">Bitcoin mining company Cango released its unaudited financial report for the full year and fourth quarter of 2025. The total revenue for the year was $688.1 million, with Bitcoin mining revenue of $675.5 million. A total of 6,594.6 Bitcoins were mined throughout the year, averaging 18.07 Bitcoins per day, and the adjusted EBITDA for the year was $24.51 million.
In the fourth quarter, revenue was $179.5 million, with 1,718.3 Bitcoins mined. However, due to the decline in Bitcoin prices, impairment losses on mining machines ($338.3 million), and fair value adjustments, the net loss from continuing operations for the year was $452.8 million, and the adjusted EBITDA for the fourth quarter was -$156.3 million. Additionally, in the fourth quarter, the cash cost per Bitcoin mining machine was close to a high of $84,000.
As of the end of 2025, the company held $41.23 million in cash, had long-term related party debt of $557.6 million, and sold 4,451 Bitcoins in February of this year to repay part of its debt and reduce financial leverage.
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