NYSE$CANG
Cango Inc · Q2 2025 earnings
Q2 2025 earnings · · After market close
Briefing
Cango pivots to bitcoin mining but posts $368M H1 loss on impairments
Cango Inc. filed interim results for the six months ended June 30, 2025, reflecting its strategic shift from legacy auto-finance to bitcoin mining and international auto trading. Total revenue from continuing operations was $284.0 million, driven almost entirely by $282.3 million of bitcoin mining income from 2,945 bitcoins mined. The company recorded a net loss attributable to shareholders of $367.6 million, including a $256.9 million impairment on mining machines and losses from discontinued PRC operations.
- H1 2025 revenue from continuing operations totaled $284.0M, with bitcoin mining contributing $282.3M.
- Cango mined 2,945.4 bitcoins in H1 2025; mining capacity reached 50 EH/s by June 30 after an 18 EH/s acquisition.
- Net loss attributable to shareholders was $367.6M versus net income of $24.4M in H1 2024.
- A $256.9M impairment on mining machines and discontinued PRC business losses drove the swing to red ink.
- International automobile trading generated $1.7M of revenue in the first half.
Headline financials
Revenue & EPS history
Cango Inc · Revenue · Quarterly
$284M
Revenue by segment
Cango Inc · $284M total across 2 segments · Q2 2025
- Bitcoin mining$282M—99.4%
- International automobile trading$1.72M—0.6%
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 2 quarterly earnings reports · overlaid with Q2 2025
-1.6%
Avg return
Earnings day
-9.1%
Avg return
5 days after
+1.8%
Avg return
30 days after
50%
1 / 2 earnings
Positive
+6.6%
Q2 2025
Best reaction
-9.7%
Q3 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q3 2025 | -9.7% | -16.6% | +3.4% | |
| Q2 2025 | +6.6% | -1.7% | +0.2% |
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