SHANGHAI, May 19, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a rapidly expanding leader in Bitcoin mining, today announced the release of Apollo Insights’ first quarter review of the Company’s performance, which highlighted that Cango’s Q1 2025 Bitcoin mining revenue was in line with their expectations and noted the Company’s solid operational metrics and potential for future growth.

The Apollo Insights review, titled “Q1 BTC Mining Revenue In-Line, Deployed Hash Rate Poised For Growth,” reported Cango’s Q1 2025 Bitcoin mining revenue at RMB 1,046 million, in line with the firm’s estimates. While the report noted a Q1 2025 adjusted EBITDA loss, attributed primarily to Bitcoin price volatility and expenses from the legacy auto business, Apollo Insights maintained a positive outlook for future profitability driven by operating leverage in the Bitcoin mining segment. The firm increased its full-year 2025 revenue estimate to RMB 5,173 million, reflecting higher Bitcoin price assumptions partially offset by increased network difficulty.

The review highlighted Cango’s solid operational performance in Q1 2025, with deployed hash rate reaching 32 EH/s by quarter-end. In March 2025, Cango achieved industry-leading productivity of 16.6 Bitcoin mined per EH/s. The Company mined a total of 1,541 Bitcoins in the quarter and held 2,475 Bitcoins as of March 31, 2025, with no Bitcoins sold.

Apollo Insights estimates significant hash rate growth ahead, projecting Cango to exit fiscal 2025E and fiscal 2026E with deployed hash rates of 42 EH/s (+10 EH/s year-over-year) and 54 EH/s (+12 EH/s year-over-year), respectively. This growth trajectory includes the planned acquisition of 18 EH/s expected to be completed by the end of July 2025.

Looking ahead, as a future-ready company with strong operational flexibility, the report outlines that Cango will strive to secure more favorable mining contracts, explore self-operation of its fleet of mining equipment, consider investing in low-cost, clean energy projects in the Middle East and Australia, offer various digital financial services, and develop the “asset light” used car platform. 

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About Cango Inc.

Cango Inc. (NYSE: CANG) primarily operates a leading Bitcoin mining business. Cango has deployed its mining operation across strategic locations including North America, Middle East, South America, and East Africa. Cango expanded into the crypto assets market in November 2024, driven by the development in blockchain technology, increasing prevalence of crypto assets and its endeavor to diversify its business. Meanwhile, Cango has continued to operate the automotive transaction service in China since 2010, aiming to make car purchases simple and enjoyable. For more information, please visit: www.cangoonline.com.

Media Contact

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

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VICTORIA, Seychelles, May 19, 2025 /PRNewswire/ — MEXC, a leading global cryptocurrency exchange, has announced the launch of the Pizza Day Lucky Wheel event to celebrate Bitcoin Pizza Day. Bitcoin Pizza Day originated on May 22, 2010, when a programmer purchased two pizzas for 10,000 Bitcoins, marking the first real-world transaction using Bitcoin and symbolizing a key milestone in cryptocurrency’s practical application. In this event, users will have the opportunity to share over $100,000 in BTC and other hot tokens.

Event Details

The Pizza Day Lucky Wheel event runs from May 19, 12:00 to May 28, 2025, 12:00 (UTC).

How to Participate

• Register for the event on the official MEXC platform.
• Complete the tasks listed on the event page to earn spin chances.
• Spin the Wheel to win BTC, hot tokens, and other rewards.

Bonus Offer

Users who invite friends to join MEXC using a referral code can receive a 10 USDT token gift pack for each friend who registers and completes a task. Each referrer can earn up to five gift packs on a first-come, first-served basis. For more details and to participate in the Pizza Day Lucky Wheel event, please visit here.

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In addition to the Pizza Day Lucky Wheel event, MEXC has launched various regional events to celebrate Pizza Day, providing generous rewards. Details of these events can be found below:

• Europe, Latin America, UK, Canada, Australia, New Zealand: May 6, 13:00 – May 22, 18:00 (UTC+3)
• Taipei: May 18, 14:00 – 19:30, 2025 (UTC+8)
• MENA: May 18, 21:00 – June 10, 21:00, 2025 (UTC)
• CIS: May 16, 10:00 – May 31, 15:00, 2025 (UTC)
• Vietnam: May 15, 16:00 – May 31, 15:00, 2025 (UTC)

As a firm believer in the cultural value of crypto, MEXC actively promotes community engagement through creative, culturally inspired events. These initiatives enrich the user experience and help shape a more inclusive and participatory crypto ecosystem.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

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JuChain announces major ecosystem partners alongside the debut of Butterfly, its first flagship protocol.

BANGKOK, Thailand, May 19, 2025 /PRNewswire/ — The JuChain Global Ecosystem Summit and Butterfly Protocol Launch concluded successfully in Bangkok yesterday, bringing together Web3 leaders, developers, and innovators from around the world. The summit showcased JuCoin‘s service-driven exchange ecosystem, introduced key ecosystem partnerships, and officially launched Butterfly, JuChain’s first core protocol.

High-Level Support and International Participation

The event drew significant attention from Thai government officials, with several members of the Thai royal family in attendance, including Prince Ura-Tiwakorn and Prince Wangchai-Nawaroj. Government representatives expressed strong support for Web3 innovation and international collaboration, setting a collaborative tone for the proceedings.

The summit attracted over 3,000 in-person attendees and reached more than 100,000 viewers through global livestreams, demonstrating the significant industry interest in JuChain’s ecosystem developments.

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JuChain’s Ambitious Growth Strategy

JuChain Growth Lead Jacky kicked off the main presentations with an overview of the “JuChain Ecosystem 10 Billion Co-Building Plan.” He outlined JuChain’s mission as a service-oriented blockchain incubated by JuCoin, designed to bridge centralized and decentralized systems while supporting billion-dollar value projects and fostering new assets and protocols on-chain.

Key technical advantages highlighted included JuChain’s scalability, cost efficiency with transaction fees under 0.001 JU, full EVM compatibility reducing developer migration costs by 70%, and active developer community building through initiatives like the Jutopia hackathon.

Major Ecosystem Partnership Announcements

Ave.ai Integration

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Ave.ai’s Chinese Market Lead Jack announced their integration as one of the first mainstream trading platforms to connect with JuChain. As a leading on-chain aggregated trading platform integrating over 130 chains and 300+ decentralized exchanges, Ave.ai brings institutional-grade trading infrastructure to JuChain users.

Notably, Ave.ai serves as the exclusive data provider for Binance Wallet and Binance Alpha, bringing their proven data analysis and trade execution capabilities to deliver CEX-level on-chain trading experiences within the JuChain ecosystem.

WOW EARN as Official Ecosystem Wallet

WOW EARN General Manager Joseph announced their platform’s appointment as the official wallet for the JuChain ecosystem. With over 3 million users, WOW EARN integrates DeFi, SocialFi, GameFi, and secure communication tools, offering a comprehensive Web3 gateway.

The platform’s innovative Proof of Engagement (PoE) mining mechanism and unique membership program provide new models for ecosystem interaction and user growth, simplifying access to the JuChain ecosystem for mainstream users.

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JAMM Trading: Native AMM DEX

JAMM Swap’s Jim Li presented their vision for Asset Issuance 2.0, introducing JAMM Trading as JuChain’s native AMM DEX designed specifically for diverse asset issuance needs. The platform features scalable on-chain referral systems, highly modular trading mechanisms, and value-returning tokenomics designed to support the ecosystem’s growing variety of new assets.

JuCoin’s Service-Driven Vision

JuCoin Ecosystem Brand Lead Mumu delivered a comprehensive presentation on “JuCoin 2025 Global Brand Ecosystem Strategy & Futures Trading Global Partnership Program,” articulating JuCoin’s unique positioning as the world’s first service-driven Web3 exchange.

Rather than functioning merely as a trading pipeline, JuCoin aims to create an inclusive ecosystem ocean that connects B2B and B2C services. The platform offers comprehensive support for projects including incubation, technical consulting, policy solutions, and liquidity injection, positioning itself as a “free city-state” for ecosystem builders.

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Key strategic initiatives unveiled include:

• Three-Tier Ecosystem Empowerment System: Global Partnership Program, Regional Agent Program, and Token Zone Curator Program
• Conqueror Roadmap: Strategy for accelerating global influence
• $100 Million Ecosystem Fund (JULabs): Supporting ecosystem development and innovation

The presentation outlined JuCoin’s evolution from trading terminal to value hub to ecosystem cosmos, demonstrating their commitment to sharing ecosystem benefits with the community through decentralized governance.

Butterfly Protocol: A New Paradigm for Digital Assets

The summit’s climax came with the official global launch of the Butterfly Protocol. In a ceremonial moment, key speakers placed their hands on the launch device as a countdown began, culminating in the beautiful butterfly animation blooming across screens, marking the official debut of JuChain’s flagship protocol.

Butterfly Strategy Committee Chief Advisor Mark provided an in-depth analysis of the protocol’s innovative design. Butterfly addresses the dual needs of asset security and growth in the current crypto market through its unique “dual-wing” architecture:

Left Wing – Stability Anchor: Utilizes a portion of user principal as insurance reserves, combined with the innovative “Cocoon Protection Layer” mechanism to provide robust asset protection.

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Right Wing – Power Fuel: Channels remaining funds into a “Liquidity Rocket Engine” that pursues value appreciation through efficient strategies, targeting sustainable daily compound growth of 1-3%.

“Butterfly Protocol represents more than just a technical breakthrough,” Mark explained. “It embodies our commitment to users – ensuring their assets remain both secure and positioned for growth in the Web3 ecosystem.”

Looking Forward

The successful summit demonstrates JuChain’s comprehensive approach to building a service-driven Web3 ecosystem. Through strategic partnerships, innovative protocols like Butterfly, and a commitment to community-driven growth, JuChain is positioning itself as a leader in the next generation of blockchain infrastructure.

As Ecosystem Brand Lead Mumu noted in closing: “A single tree cannot make a forest. The power of our ecosystem partners has been instrumental in JuCoin’s growth. We warmly welcome more partners to join us in building this ecosystem and creating a prosperous future together.”

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With the Butterfly Protocol now live and expanding ecosystem partnerships, JuChain continues to advance its mission of making Web3 technology more accessible, secure, and valuable for users and developers worldwide.

About JuCoin: Founded in 2013, JuCoin has evolved into a comprehensive service-driven crypto ecosystem spanning over 30 countries with more than 12 million users. The platform integrates exchange services with JuChain blockchain infrastructure, JuChat social platform, and innovative protocols like Butterfly.

About JuChain: JuChain is a high-performance Layer 1 blockchain designed as a service-oriented platform that bridges centralized and decentralized systems. With low transaction costs and full EVM compatibility, JuChain provides optimal infrastructure for next-generation Web3 applications.

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