Cango Inc. Reports September Bitcoin Production Decline Amid Increased Holdings

Cango Inc. Updates Bitcoin Production and Mining Activities for September 2025

On October 3, 2025, Cango Inc. (NYSE: CANG) announced its updated figures regarding Bitcoin production and mining operations for September 2025. The company reported a total production of 616.6 Bitcoin for the month, a decrease from 663.7 Bitcoin in August 2025. The average daily production also saw a decline, dropping to 20.55 Bitcoin from 21.41 Bitcoin the previous month.

As of the end of September, Cango held a total of 5,810 Bitcoin, up from 5,193.4 Bitcoin at the end of August. The company maintained a hash rate of 50 EH/s, with an average operational hash rate of 44.85 EH/s, an increase from 43.74 EH/s in August. CEO Paul Yu emphasized the company's commitment to operational excellence and fleet efficiency, stating that they are on track to maximize their hash rate potential.

“Our relentless focus on operational excellence and fleet efficiency continues to yield results in our global mining operations,” said Paul Yu.

In summary, Cango Inc. has shown a slight decrease in Bitcoin production but an increase in total holdings, reflecting a strategic focus on long-term asset retention.

Source: PR Newswire

New York Proposes Increased Taxes on Bitcoin Mining Firms

A new legislative proposal in New York aims to implement a tiered consumption tax on electricity used by Bitcoin miners. This could significantly impact the profitability of mining operations in the state. Smaller operators consuming less than 2.25 million kilowatt-hours (kWh) would be exempt from the tax, while larger firms could face fees rising to 5 cents per kWh.

New York is a key location for the mining industry, second only to Texas, and is known for its reliance on nuclear energy and abundant hydropower. However, the timing of this proposal is challenging for many miners, as production costs for Bitcoin have reportedly exceeded $70,000 in the second quarter of 2025, compared to just $20,000 in Ethiopia. Notably, companies using only renewable energy sources would be exempt from the new tax.

In conclusion, the proposed tax could create significant challenges for larger mining operations in New York, while potentially encouraging a shift towards renewable energy sources.

Source: Ariva

Canaan Stock Surges After Major Mining Equipment Order

Canaan Inc. (NASDAQ: CAN) experienced a remarkable 66% increase in its stock price, reaching $1.41, following the announcement of a significant order for over 50,000 Avalon A15 Pro mining devices from a U.S. Bitcoin mining operator. This order marks the largest single purchase for Canaan in the past three years and comes just a day after the company revealed a partnership with Soluna Holdings to enhance its mining activities in North America.

Benchmark maintained a "Buy" rating for Canaan's stock with a target price of $2.00, citing the deal as a confirmation of the company's strategic plans. Canaan must maintain a stock price above $1 for ten consecutive trading days to avoid delisting from NASDAQ, making this surge particularly timely.

In summary, Canaan's recent order and strategic partnerships highlight its growth potential in the competitive Bitcoin mining sector.

Source: Investing.com

CleanSpark Releases Bitcoin Mining Update for September 2025

CleanSpark, Inc. has published its Bitcoin mining update for September 2025, showcasing its operational performance in the cryptocurrency sector. The company reported a total production of 98 Bitcoin for the month, reflecting a 10% increase in its mining capacity. CleanSpark's installed hash rate reached 8.6 EH/s, with an operational hash rate of 7.5 EH/s.

The update underscores CleanSpark's commitment to expanding its mining operations and optimizing its performance in the rapidly evolving cryptocurrency landscape. The company continues to focus on enhancing its efficiency and production capabilities.

In conclusion, CleanSpark's positive production figures indicate a robust operational strategy in the Bitcoin mining industry.

Source: MarketScreener

Africa's Ethiopia Emerges as a Bitcoin Mining Paradise

Ethiopia is gaining recognition as a prime location for Bitcoin mining, attributed to its low operational costs and abundant renewable energy resources. The country offers Bitcoin miners the opportunity to produce the cryptocurrency at significantly lower costs compared to other regions, with reports indicating that the average production cost for a Bitcoin in Ethiopia is around $20,000.

This favorable environment is attracting miners looking to maximize profitability while minimizing their environmental impact. As the global demand for Bitcoin continues to rise, Ethiopia's unique advantages position it as a competitive player in the cryptocurrency mining sector.

In summary, Ethiopia's low costs and renewable energy resources make it an attractive destination for Bitcoin miners seeking to enhance their profitability.

Source: finanzen.at

Sources:

• Cango Inc. gibt Update zu Bitcoin-Produktion und Mining-Aktivitäten für September 2025 bekannt
• New York will Bitcoin-Mining-Firmen stärker besteuern - 03.10.25 - News
• Canaan-Aktie schießt nach größtem Mining-Auftrag seit drei Jahren in die Höhe
• Cleanspark Veröffentlicht Bitcoin-Mining-Update für September 2025
• Bitcoin-Goldgrube Afrika: Das macht Äthiopien zum Paradies für Bitcoin-Miner
• Riot Blockchain Aktie: Bitcoin-Rally treibt an!