Cango records $452.8 million net loss for 2025 as bitcoin mining and AI shift reshape business
Cango Inc. reported a $452.8 million net loss for 2025, its first full year as a bitcoin miner, on $688.1 million in total revenue and $1.1 billion in operating costs and expenses. The company mined 6,594.6 BTC in 2025 and ended December 2025 with 7,528.4 BTC produced since late 2024, then sold about $305 million of bitcoin in February 2026 to reduce debt and fund an AI infrastructure pivot under EcoHash.