Cango Inc. Gains Positive Outlook with Initiation of Coverage by Apollo Insights
Apollo Insights initiated coverage on Cango on April 22, 2025, following the release of its equity research report and investment thesis titled "Cango Catapults Into Bitcoin Mining".
The equity research report highlights include:
The Company has a market capitalization of $387.1 million
The 12-month low and high for the Company's stock is $1.33 and $8.00, respectively.
Apollo Insights estimates that Cango's fiscal 2025E revenue and adjusted EBITDA will reach RMB3,913.2 million and RMB665.6 million, respectively
In fiscal 2026E, revenue and adjusted EBITDA are projected to reach RMB4,644.6 million (an 18.7% year-over-year increase) and RMB1,185.2 million (a 78.1% year-over-year increase), respectively.
The firm attributes its favorable outlook for Cango to a supportive regulatory environment under the Trump administration and the potential for greater clarity in cryptocurrency regulations.
The initiation of coverage underscores Cango's remarkable rise in the Bitcoin mining industry in a short time. The Company has developed its mining operation at a lower cost and reduced operational risks through strategic partnerships for acquiring Bitcoin mining equipment. This higher overall operating efficiency ensured the Company generated an average operating hash rate of 30.3 exahash/second (EH/s) in March 2025, placing Cango in joint second for the highest operating hashrate in the month.
The Company's capital-light model has helped it accumulate holdings of approximately 2,475 Bitcoin as end-March 2025, valued at roughly US$211 million as of April 17, 2025. Cango has not sold any of its Bitcoin holdings yet. Overall, as of March 2025, Cango ranks as the fifth-largest Bitcoin mining player by deployed hashrate, achieving 32 EH/s in just four months. The report projects that its deployed hashrate will reach 42 EH/s by the end of FY25E.
Since entering the Bitcoin mining industry in November 2024, Cango has expanded its global footprint across strategic regions. Its mining operations now span the U.S. (38%), East Africa (37%), Oman (15%), Paraguay (9%), and Canada (1%).
Click here to view Apollo Insights' full equity research report and investment thesis on Cango.
About Cango Inc.
Cango Inc. (NYSE: CANG) primarily operates a leading Bitcoin mining business. Cango has deployed its mining operation across strategic locations including North America, Middle East, South America, and East Africa. Cango expanded into the crypto assets market in November 2024, driven by the development in blockchain technology, increasing prevalence of crypto assets and its endeavor to diversify its business. Meanwhile, Cango has continued to operate the automotive transaction service in China since 2010, aiming to make car purchases simple and enjoyable. For more information, please visit: www.cangoonline.com.
Media Contact
SOURCE Cango Inc.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CBC
39 minutes ago
- CBC
Montreal court case sheds light on Quebec's 10-year property occupancy rule
The City of Montreal bought a site in the Villeray neighbourhood in 2019, hoping to transform it into social housing. But the company that owns the building next door says it's maintained part of the site for three decades, without any opposition. That's bringing attention to an old Quebec law that gives people using and taking care of a piece of land for at least a decade certain rights.
Winnipeg Free Press
2 hours ago
- Winnipeg Free Press
China and U.S. plot pathways to AI dominance
Opinion In late July, the world's two superpowers in artificial intelligence (AI) laid out their near-term strategies. The plans diverge on how to achieve tech supremacy. They also both contain many contradictions and are based on numerous bold assumptions. Yet whichever country best executes their imperfect AI roadmap will gain major advantages. And not only in re-shaping the global economy but also tilting the military balance of power in their favour. The Trump administration's new AI Action Plan takes a predictably ultranationalist approach. 'America is the country that started the AI race,' Trump said in a speech the evening it was published. 'And as president of the United States, I'm here today to declare that America is going to win it.' The Associated Press China is aiming to take the lead in the battle for AI supremacy. Chinese President Xi Jinping is displayed on a screen as he delivers a speech at the closing ceremony for China's National People's Congress at the Great Hall of the People in Beijing on March 13. To do so, the White House intends to give U.S. tech giants far more leeway. 'The action plan, at its highest level, reads just like a wish list from Silicon Valley,' an executive at the AI Now Institute, a non-partisan research organization, told media outlet Defense One. Existing government guardrails will be rolled back and 'woke' safety measures will disappear. Federal funds will be withheld from states attempting to regulate AI on their own. Environmental laws that impede data centre construction are on the chopping block. Protectionist trade policies at home will be paired with efforts to champion American companies abroad. Vague details for mitigating national security risks arising from cutting-edge models only appear on the manifesto's final two pages. Nevertheless, many experts have praised the plan. In particular, for committing the U.S. to unleashing domestic AI innovation, emphasizing digital literacy in the workforce and building enormous new computing power for American companies. Although, the strategy doesn't specify any new funding. The brash anti-diplomacy of Trump's second act has also already done lasting damage. America's friends, including Canada, are increasingly motivated to wean themselves off U.S. technology. 'Even longstanding allies and partners are framed as mere markets to be captured in the interests of global American supremacy,' says Kat Duffy, a senior fellow at the Council on Foreign Relations. 'Ultimately, when it comes to global engagement, the plan sings a zero-sum tune.' A populist crusade against America's universities and foreign workers is chasing away vital talent as well. Washington's heavy-handed tariff regime will aggravate the cost of expanding domestic digital infrastructure. China, meanwhile, retains a stranglehold on the critical minerals market. And in many ways, the nation of 1.4 billion has already leapfrogged America in embracing AI in its economy and society. Beijing now intends to harness Chinese products and expertise to bolster its growing soft power throughout the developing world. Released on Jul. 26 during this year's annual summer tech conference in Shanghai, China's 'global action plan' on AI proposes to help developing nations utilize Chinese technology for their own purposes. China already offers a full package of IT hardware, software, training and financing to nations in Africa, Asia, the Middle East and Latin America via its Digital Silk Road initiative. A key selling feature going forward will be how client states can seamlessly integrate high-performance, open-source Chinese tools into local systems that are based on Chinese networks. DeepSeek's AI reasoning model, for example, is already outcompeting Silicon Valley's closed-source, subscription-based AI products across the Global South. Developing nations thus gain greater flexibility to improve their health care, education and workforce training programs — all while entrenching Chinese technology in their domestic industries. Indeed, the Trump administration recognizes this gravely threatens America's ambitions. The AI Action Plan thus presses U.S. firms to pivot to creating more open-source models. Wednesdays What's next in arts, life and pop culture. Beijing also proposes setting up a new entity to facilitate international collaboration on AI development. This comes after President Xi Jinping in 2023 launched the China-led Global AI Governance Initiative, based on claims of wanting to advance safe, human-centred systems. However, China's benevolent rhetoric shouldn't be taken at face value. It's the same country that's harnessed AI to craft the world's most fearsome surveillance state. The northwest region of Xinjiang, especially, has been rendered a digital gulag for Uyghur Muslims and other minorities. And China is busy exporting these dystopian technologies to dozens of countries worldwide. 'Some global AI industry leaders are concerned that Chinese open generative models could spread Chinese Communist Party propaganda to users by censoring or distorting information on Chinese history, global politics, and human rights issues,' warn two senior fellows at the Atlantic Council. All told, if either China or the U.S. truly 'win' the AI race, it'll probably equate to a loss for almost everyone else. Kyle Hiebert is a Montreal-based political risk analyst and former deputy editor of the Africa Conflict Monitor.
Globe and Mail
2 hours ago
- Globe and Mail
Diversified Energy Announces Second Quarter Dividend
Diversified Energy Company PLC (LSE: DEC, NYSE:DEC) ('Diversified' or 'the Company') is pleased to announce that the Board has declared an interim dividend of 29 cents per share in respect of 2Q25 for the three month period ended June 30, 2025. Key dates related to this dividend include: Diversified will pay the dividend in U.S. dollars while continuing to make available to shareholders a sterling election. For those shareholders who wish to receive their dividend payment in sterling, and who have not yet completed a currency election form, the Company has made available a dividend election form on its website at Shareholders who wish to receive sterling should submit the currency election form to Computershare Investor Services no later than December 8, 2025. Diversified will announce the sterling value of the dividend payable per share approximately two weeks prior to the payment date. This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No. 596/2014 on Market Abuse ('UK MAR'), as it forms part of the UK domestic law by virtue of the European Union (Withdrawal) Act 2018. For further information, please contact: About Diversified Energy Company PLC Diversified is a leading publicly traded energy company focused on natural gas and liquids production, transport, marketing, and well retirement. Through our unique differentiated strategy, we acquire existing, long-life assets and invest in them to improve environmental and operational performance until retiring those assets in a safe and environmentally secure manner. Recognized by ratings agencies and organizations for our sustainability leadership, this solutions-oriented, stewardship approach makes Diversified the Right Company at the Right Time to responsibly produce energy, deliver reliable free cash flow, and generate shareholder value.
