Canaan Creative 2025 Financial Report: Total Annual Revenue Approximately $680 Million, Bitcoin Mining Revenue $675 Million

TechubNews · 2026-03-17T06:24:13+00:00

Cango (灿谷) released its 2025 financial report, with full-year revenue of $688.1 million, primarily derived from Bitcoin mining. Despite mining 6,594.6 Bitcoins, the company reported a net loss of $452.8 million due to declining prices and impairment losses. Revenue for the fourth quarter was $179.5 million, with an EBITDA of negative $156.3 million. As of the end of the year, cash reserves totaled $41.23 million, and long-term debt amounted to $557.6 million.

TechubNews

2026-03-17 06:24:13

Abstract generation in progress

Techub News reports that Cango has released its unaudited financial results for the full year and fourth quarter of 2025. The company’s total annual revenue was $688.1 million, with Bitcoin mining revenue of $675.5 million, mining a total of 6,594.6 Bitcoins throughout the year, averaging 18.07 Bitcoins per day. The full-year adjusted EBITDA was $24.51 million. In the fourth quarter, revenue was $179.5 million, with 1,718.3 Bitcoins mined. However, due to a decline in Bitcoin prices, impairment losses on mining equipment of $338.3 million, and fair value adjustments, the company reported a net loss from continuing operations of $452.8 million for the year. The adjusted EBITDA for the fourth quarter was negative $156.3 million.

As of the end of 2025, the company held $41.23 million in cash and had long-term related-party debt of $557.6 million. In February this year, it sold 4,451 Bitcoins to repay part of its debt and reduce financial leverage.

BTC1.24%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.