Cango Inc. Gains Positive Outlook with Initiation of Coverage by Apollo Insights – CryptoMode

Shanghai, April 29, 2025 / Prnewswire / – CANGO INC. (NYSE: CANG) (“CANGO” or “Société”), an expanding leader in the exploitation of Bitcoin, announced the initiation of the coverage of Apollo Insights, a research company in independent actions.

Apollo Insights launched a coverage on Cango on April 22, 2025, following the publication of his action research report and his investment thesis entitled “Capgo Catapults in Bitcoin Mining”.

The actions research report includes:

• The company has a market capitalization of $ 387.1 million
• The 12 -month hollow for the company's shares is $ 1.33 and $ 8.00 respectively.
• Apollo Insights estimates that revenues from the year 2025th of Cango and the adjusted Ebitda will reach 3,913.2 million RMB and 665.6 million RMB, respectively of RMB
• During the year 2026th, adjusted revenues and Ebitda should reach 4,644.6 million RMB (an increase of 18.7% from one year on the other) and 1,185.2 million RMB (an increase of 78.1% from one year on the other), respectively.
• The company attributes its favorable prospects for Cango to a regulatory environment of support within the framework of the Trump administration and the potential of greater clarity in cryptocurrency regulations.

The initiation of the coverage underlines the remarkable increase in canco in the Bitcoin mining industry in a short time. The company has developed its mining operation at a lower cost and reduces operational risks thanks to strategic partnerships for the acquisition of bitcoin extraction equipment. This overall overall operational efficiency has enabled the company to generate an average chopping rate of 30.3 Exehash / second (EH / S) in March 2025, placing Cango in second position for the highest operating hashrate of the month.

The company's light model helped him accumulate assets of around 2,475 bitcoin at the end of March 2025, valued at around $ 211 million on April 17, 2025. Cango has not yet sold any of his Bitcoin farms. Overall, in March 2025, Cango ranks the fifth largest Bitcoin mining player by deploying Hashrate, reaching 32 EH / S in just four months. The report provides that its deployed hashrate will reach 42 EH / S at the end of the 25th year.

Since entering the Bitcoin mining industry in November 2024, Cango has expanded its global footprint to strategic regions. Its mining operations now extend to the United States (38%), East Africa (37%), Oman (15%), Paraguay (9%) and Canada (1%).

Click here To see the research report on Apollo Insights' investment actions and investment thesis on Cango.

About Cango Inc.

CANGO INC. (NYSE: CANG) mainly operates a leading Bitcoin operating company. Cango has deployed its mining operation in strategic locations, notably North America, the Middle East, South America and East Africa. Cango extended to the cryptographic asset market in November 2024, motivated by the development of blockchain technology, increasing the prevalence of cryptographic assets and its efforts to diversify its activities. Meanwhile, Cango has continued to operate the car transaction service in China since 2010, aimed at making shopping of cars simple and pleasant. For more information, please visit: www.cangoonline.com.

Contact with the media

Juliet Ye

Cango Inc.

Tel: +86 21 3183 5088 Ext.5581

Email: i@cangoonline.com