Cango Inc
ir.cangoonline.comWhat Do They Do?
Mines Bitcoin and sells it for cash, while also running an online international automobile trading business.
20-F for FY2025, filed Apr 10, 2026
How Do They Make Money?
Mining pools reward the company with Bitcoin for its computing work; it may later sell Bitcoin for cash. Automobile trading brings in sales revenue and fees.
20-F for FY2025, filed Apr 10, 2026Currently, we generate most of our revenue from Bitcoin earned from mining activities. We are rewarded with Bitcoins from mining pools in…View ↗
Once we retrieve Bitcoins from collaterals, or start holding Bitcoins, we may sell the withdrawn Bitcoins for fiat currency from time to…View ↗
The Company’s revenues from continuing operations are derived principally from 1) Bitcoin mining income, 2) international automobile…View ↗
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20-F for FY2025, filed Apr 10, 2026
FY2025 revenue by product or service (Revenue from hosting services) ↗
$688.1M
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20-F for FY2025, filed Apr 10, 2026
$688.1M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Bitcoin mining income
Usage-based
20-F for FY2025, filed Apr 10, 2026 |
98% |
Bitcoin mining income, FY2025
$675.5M Sources
|
Usage-based |
|
International automobile trading income
Sold outright
|
1.4% |
International automobile trading income, FY2025
$9.8M Sources
|
Sold outright |
Who Are Their Customers?
Mining pools reward the company for computing work, and the company operates an online international automobile trading business.
20-F for FY2025, filed Apr 10, 2026
Do Revenues Turn Into Profits?
No. It lost $622M in FY2025.
20-F for FY2025, filed Apr 10, 2026
−$437.1MView ↗
20-F for FY2025, filed Apr 10, 2026
−$622MView ↗
20-F for FY2025, filed Apr 10, 2026
−$119.2MView ↗
How Are They Changing?
From automotive services to Bitcoin mining
The older report described an automotive transaction platform serving dealers, car buyers, financial institutions and automakers with trading, financing and after-market services. The latest report centers on Bitcoin mining and also describes an online international automobile trading business.
20-F for FY2022, filed Apr 26, 2023 20-F for FY2025, filed Apr 10, 2026
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