Bitcoin Miner Cango Adds 147 BTC in a Week, Now Holds Over 4,000 BTC

Bitcoin mining firm Cango Inc. has increased its bitcoin stash after producing 147 BTC in the past week. The company now holds 4,387.1 BTC, with the total value exceeding $509 million as of Friday.

#WeeklyUpdate Cango mined 147.0 #BTC this week, bringing our total bitcoin holdings to 4387.1 BTC.

Full #HODL mode + our new leadership team now in place, a new era begins.#CryptoMining #Bitcoin $CANG pic.twitter.com/TmZ1NIoWwY

— CANGO (@Cango_Group) July 25, 2025

Despite this sizable reserve, Cango confirmed it has not sold any of its bitcoin this year. The decision to hold all mined coins stands out, especially as other miners have recently sold off large amounts.

Cango Scales Up Mining Power

Data from CryptoQuant shows that around 16,000 BTC, worth $1.86 billion, were moved to exchanges by miners as of July 18. Many likely sold to secure funds during favorable market conditions.

In contrast to the broader sell-off trend, Cango is expanding its mining capacity instead of offloading assets. It recently secured 18 EH/s of active hashrate from Antalpha, a company affiliated with Bitmain. Based in China, Bitmain is a major supplier of bitcoin mining machines, and the deal brought Cango’s total hashrate to about 50 EH/s.

For context, the metric EH/s (short for exahashes per second) measures the computing power used to solve complex problems required to validate BTC transactions. A higher hashrate increases the likelihood of earning new BTC through successful block validation.

By reaching the 50 EH/s mark, Cango joins Marathon Digital and CleanSpark as the only public firms with that capacity. The achievement highlights a major step in Cango’s shift from its former focus on auto finance.

Fresh Management Team to Boost Mining Strategy

The bitcoin mining firm also overhauled its leadership team earlier in the week. Xin Jin, CEO of Antalpha, now chairs the board—signaling a closer alignment with the mining sector.

Cango appointed Peng Yu as CEO and brought in new executives to fill the CFO and CIO positions. The shake-up is part of a wider strategy to scale operations and strengthen its treasury approach.

According to Peng, the new team plans to expand beyond the 50 EH/s milestone and build up the company’s BTC holdings. He also noted that Cango will explore green-energy projects tied to its mining roadmap.

Meanwhile, bitcoin’s price action has shifted downward. The asset fell to about $114,500 on Friday—roughly 7% below its July 14 all-time high above $123,000.

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