Cango October Bitcoin Mining: 603 BTC, 6,412 BTC Holdings
Cango Inc reported October Bitcoin mining output of 602.6 BTC, averaging 19.44 BTC per day as hashrate reached 46.09 EH/s across its global facilities. Total BTC holdings climbed to 6,412.6, reflecting the firm’s long-term hodl strategy with no plans to sell.
The miner will terminate its ADR program on November 14 and begin direct Class A share trading on the NYSE from November 17 to reduce fees and boost institutional visibility. Since entering crypto in November 2024, Cango acquired a Georgia mining site for $19.5 million and plans a high-performance AI computing pilot in H1 2026. CEO Paul Yu says these milestones in Bitcoin mining and corporate structure position Cango to capture emerging energy and AI market opportunities.
Bullish
Stable October Bitcoin mining output and rising BTC holdings underscore Cango’s production efficiency and supply discipline, supporting a positive short-term price outlook. The upcoming NYSE direct listing enhances institutional visibility, while the planned AI computing pilot signals long-term diversification and potential demand drivers for Bitcoin. Together, these developments are likely to bolster market confidence and drive bullish sentiment.