Cango Joins Bitwise Bitcoin ETF as a Leading Global Mining Contender

SHANGHAI, March 18, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a prominent Bitcoin mining firm with an automotive transaction service in China, has announced its inclusion in the Bitwise Bitcoin Standard Corporations ETF (NYSE Arca: OWNB), which was launched by Bitwise Asset Management on March 11, 2025. This exchange-traded fund (ETF) tracks the Bitwise Bitcoin Standard Index, providing investors exposure to forward-looking publicly traded companies that hold at least 1,000 Bitcoins on their balance sheets.

“We are honored to be part of the newly launched Bitwise Bitcoin Standard Corporations ETF. Our inclusion signifies industry recognition of our strategic shift towards Bitcoin mining and our considerable accomplishments in a short timeframe,” stated Mr. Jiayuan Lin, Chief Executive Officer of Cango. “As a forward-thinking company, our proactive business model positions us for sustained growth, worldwide expansion, and operational flexibility within the Bitcoin mining industry in 2025 and beyond.”

Since adopting a capital-light Bitcoin mining model in Q4 2024, Cango has reached several significant milestones, including leading the sector in productivity per hash rate, achieving 17.81 Bitcoin per EH/s, and securing a hashrate of 32 EH/s, ranking third globally.

About Cango Inc.

Cango Inc. (NYSE: CANG) primarily engages in a leading Bitcoin mining business. Based in Shanghai, China, Cango operates its mining facilities across strategic sites, including North America, Middle East, South America, and East Africa. Cango ventured into the crypto assets market in November 2024, motivated by advancements in blockchain technology, the rising popularity of crypto assets, and its goal to diversify its operations. Additionally, Cango has maintained its automotive transaction services in China since 2010, striving to simplify and enhance the car buying experience. For further details, please visit: www.cangoonline.com.

Safe Harbor Statement

This announcement includes forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by language such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” and similar phrases. Cango may also issue written or oral forward-looking statements in its periodic SEC reports, annual shareholder reports, press releases, and in oral communications made by its executives, directors, or employees to outside parties. Statements that are not historical facts, including Cango’s beliefs and expectations, are forward-looking statements. Such statements are subject to inherent risks and uncertainties. Numerous factors could lead to actual results differing materially from those predicted in any forward-looking statement, including but not limited to the following: Cango’s objectives and strategies; expansion plans; future business development, financial health, and operational results; expectations concerning demand for and market acceptance of its products and services; intentions regarding maintaining and enhancing relationships with dealers, financial institutions, car purchasers, and other platform users; general economic and business conditions; and assumptions connected to any of the aforementioned. Additional information regarding these and other risks can be found in Cango’s SEC filings. All information in this press release and its attachments is accurate as of the release date, and Cango does not assume any obligation to update any forward-looking statement unless required by applicable law.

Investor Relations Contact

Yihe Liu
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: [email protected]

Helen Wu
Piacente Financial Communications
Tel: +86 10 6508 0677
Email: [email protected]

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SOURCE Cango Inc.