PANews reported on May 15 that according to PR Newswire, Cango Inc. (NYSE: CANG) had unaudited revenue of RMB 1.1 billion (approximately US$145 million) in the first quarter of 2025, a year-on-year increase, mainly due to its Bitcoin mining business launched in November 2024, with a single-quarter mining revenue of RMB 1 billion and a total of 1,541 Bitcoins produced. The company implements a "mining + holding" strategy, with a current computing power of 32 EH/s, which is expected to increase to 50 EH/s by the end of July.