Cango Inc. reported its unaudited financial results for the second quarter of 2025. The company generated total revenues of RMB1.0 billion (US$139.8 million) with its Bitcoin mining business contributing RMB 989.4 million (US$138.1 million) to this figure. The reported net loss for the period was primarily due to a one-off loss from discontinued operations and a non-cash impairment loss from mining equipment. Excluding these factors, adjusted EBITDA reached RMB710.1 million (US$99.1 million), reflecting strong underlying profitability in the core Bitcoin mining segment. As of June 30, 2025, Cango's total mining capacity increased to 50 EH/s, bolstered by the acquisition of 18 EH/s in June 2025. The company also completed the divestiture of its China-based assets in May 2025, generating US$352 million in cash proceeds. This divestiture, along with the strategic transformation, supports Cango's ongoing initiatives in Bitcoin mining and energy infrastructure development. Additionally, Cango announced its intention to change the reporting currency of its consolidated financial statements from Renminbi to U.S. dollars, effective from the third quarter of 2025.