Cango Announces Q2 Earnings: Enhanced Adjusted EBITDA and 50 EH/s Reached, Positioning as One of the World’s Largest Bitcoin Miners
Cango's Growth in Bitcoin Mining: Cango Inc. has rapidly scaled its Bitcoin mining operations to 50 EH/s, capturing 6% of the global Bitcoin network by the end of Q2 2025, and reported a significant increase in Bitcoin production in July.
Strategic Transformation and Financial Performance: The company underwent a strategic overhaul, including a leadership restructuring and a shift to an asset-light model, resulting in Q2 revenue of $139.8 million, despite a loss attributed to discontinued operations in China.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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