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Cango Inc. Releases Letter to Shareholders

BitcoinWorld Cango Inc. Releases Letter to Shareholders HONG KONG, Nov. 6, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) today released a letter to shareholders at the one-year milestone of its bold transformation to a robust Bitcoin mining operation. CEO Paul Yu reflected on this milestone, emphasizing Cango’s vision to deliver energy-secured HPC services. The journey began in November 2024 with Bitcoin mining as a practical entry point to secure energy access, build operational expertise, and create flexible sites for long-term goals. In just eight months, Cango scaled to a 50 EH/s global platform by acquiring 32 EH/s of on-rack mining machines in November 2024, followed by 18 EH/s in June 2025. The company divested its China-based assets by May 2025, redirecting resources to its mining operations. A new Board and management team with expertise in digital assets, finance, and energy was onboarded to guide this ambitious transition. The financial impact was swift. In Q2 2025, Cango reported US$139.8 million in revenue, US$99.1 million in adjusted EBITDA , and US$117.8 million in cash equivalents, driven by an asset-light model focused on operational efficiency. Cango established a new, highly competitive core business, and a scaled global footprint across the U.S., Oman, Ethiopia, and Paraguay. This year’s momentum continued with key milestones. In August 2025, Cango acquired a 50 MW facility in Georgia for US$19.5 million, strengthening operational control and securing better power terms. Hashrate efficiency surpassed 90%, and Bitcoin holdings grew to over 6,400 BTC by October 31, 2025, through a disciplined HODL strategy. To enhance capital structure, Cango will transition to a direct NYSE listing on November 17, 2025. Looking ahead, Paul shared that Cango’s Bitcoin mining foundation will fuel a dual-track expansion into energy and HPC. The company plans disciplined, phased pilots, a targeted entry into the AI HPC market, and dual-purpose energy infrastructure development, while optimizing mining operations through improved uptime, lower energy costs, and refreshing 6 EH/s of capacity. “We are standing at the threshold of a new technological frontier, where the convergence of energy and HPC will power the next era of compute. ” Paul said. “With the resilient foundation we have built, a world-class team, and a clear, disciplined strategy, we are confident in our ability to not only navigate this future but to help shape it, creating lasting value for our shareholders and partners.” View original content: https://ir-image.cangoonline.com/ir-documents/Cango%20Shareholder%20Letter%20202511.pdf Investor Relations Contact Juliet YE, Head of Communications Cango Inc. Email: ir@cangoonline.com This post Cango Inc. Releases Letter to Shareholders first appeared on BitcoinWorld . CoinOtag

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[LIVE] Crypto News Today, November 5 – Why Is Crypto Crashing Again? And Why is $TAP Immune?

Markets are selling first and asking questions later as liquidity rushes for the exits. Unless an altcoin is either generating revenue or solves a real problem, investors are not interested. Bitcoin briefly dipped below $106,000 , and presales have become the last safe haven for investors. BTC investors have clearly flipped defensive, and large vehicles are bleeding outflows. Yet amid all this chaos, Digitap ($TAP) is up 114% since opening its presale and has raised $1.3 million, making it a leading crypto presale in November. Many traders are talking about sub-$100K scenarios in November, and sentiment has slid into the extreme fear zone. All the while, Digitap’s structured pricing arguably makes it the best crypto to buy now for investors who want to avoid volatility. Here is what investors need to know. Crypto News Today: Balancer Exploit & ETF Outflows Balancer’s exploit has swelled to over $116 million in outflows , making investors very nervous. Balancer has operated for years and received dozens of security audits, and this exploit highlights how high the risk premium remains in DeFi. This exploit affects Berachain, and a hard fork is currently in progress to try to thwart hackers stealing any more funds—the situation remains ongoing. Another large source of sell pressure is coming from ETFs, with $360 million in net outflows this week, primarily from US products . Redemptions roll in from institutional investors when Powell made it clear that a December rate cut is “not a foregone conclusion.” The Fear & Greed Index has flipped to fear, and while things might look scary, this is one of the best times to identify the best crypto to buy now, with markets offering discounts and making it obvious where capital is accumulating. Relative strength should always be observed when fear is high, and Digitap, despite being a crypto presale, is witnessing massive inflows, making the native token $TAP easily one of the best cryptos to buy now. Digitap—How this Banking Token Became a Leading Crypto Presale This Year When markets get the jitters, utility tokens become the winners. Investors naturally rotate from speculative vehicles to assets with real adoption and underlying demand. And despite being a crypto presale, Digitap’s omni-banking services are already live with thousands of sign-ups for the Visa card daily. Digitap operates like a rail-agnostic router with a familiar neobank interface. Rail-agnostic just means that Digitap can use multiple rails, including public blockchains and banking rails such as SWIFT, SEPA, ACH, and Faster Payments. Anyone can download the app on iOS and Android and get a Visa card, virtual or physical, today. The big breakthrough with Digitap is that all balances, including crypto, fiat, and stablecoins, reside on a single interface. Thanks to the crypto rails, it can perform cross-border transactions significantly faster than market incumbents like Western Union. This is what the new generation of finance looks like. The presale allows investors to avoid volatility, and judging by the $1.3 million raised, investors are jumping at this opportunity. $TAP could easily become a market leader in the PayFi space, explaining why it continues to rank highly among the best cryptos to buy now. Why Whales Buy During Fear Hawkish guidance from Powell, huge ETF redemptions, and security shocks are all feeding the current fear. But ironically, this could mark the best time to accumulate cryptos. Digitap’s live distribution, rail-agnostic routing, and presale structure are a winning formula, making it immune and arguably the best crypto to buy now, given its huge potential upside as crypto rails start to disrupt global payment corridors. Supply is limited to 2 billion, and 50% of platform revenue will be used for buybacks and burns, creating a powerful deflationary flywheel. Ranked against the best cryptos to buy now, $TAP continues to shine given its low price of $0.0268 today and its final listing price of $0.14, meaning anyone who buys today can potentially net 4X returns by the time it lists. Whales are buying the fear. Investors need to ask themselves if they will do the same. Discover how Digitap is unifying cash and crypto by checking out their project here: Presale: https://presale.digitap.app Website: https://digitap.app Social: https://linktr.ee/digitap.app Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice. CoinOtag