Cango Inc. (CANG) Issues November 2024 Production Update

Cango Inc. (NYSE: CANG) today announced its production update for crypto mining business in November 2024.

As previously announced by the Company on November 19, 2024, the Company has completed the acquisition of on-rack crypto mining machines with an aggregate hashrate of 32 Exahash per second ("EH") for a total purchase price of US$256 million in cash (the "Cash-Settled Transaction") from a leading manufacturer of digital currency mining servers. The Company and such manufacturer closed the Cash-Settled Transaction through assignment to the Company of all hash computing power of the mining machines to be delivered in the Cash-Settled Transaction, and transfer of these machines' legal title to the Company is expected to occur at a later stage as agreed by the parties.

Bitcoin Mining Update for November 2024

• Number of Bitcoins produced in November: 363.9
• Average number of Bitcoins produced per day: 18.85
• Total number of Bitcoins held as of November 30, 2024: 363.9
• Total number of Bitcoins sold in November 2024: 0
• Deployed hashrate: 32 EH/s
• Average operating hashrate: 29.75 EH/s

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