Blockchain Press Releases
Cango Inc. Reports Q1 2025 Bitcoin Mining Revenue Meets Apollo Insights’ Expectations, Firm Highlights Solid Operational Metrics and Growth Potential
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.
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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Blockchain Press Releases
From Web3 to Wall Street: Bybit Becomes the First Crypto Exchange to Offer Direct Global Stock Trading with USDT
DUBAI, UAE, May 19, 2025 /PRNewswire/ — In a landmark move bridging traditional and decentralized finance, Bybit, the world’s second-largest crypto exchange by trading volume, has launched direct trading of top global stocks with USDT. This innovation—part of Bybit’s expanding Gold & Forex (MT5) product suite— unlocks direct trading of 78 of the most sought-after global equities—including Apple ($AAPL), Tesla ($TSLA), Meta ($META), Nvidia ($NVDA), and Amazon ($AMZN)—all powered by USDT. Users can now tap into traditional markets like stocks, gold, oil, indices, and forex, without fiat onboarding or leaving the crypto ecosystem.
With this launch, Bybit became the first and only major crypto exchange to unify crypto, stocks, and traditional assets under one roof, enabling seamless trading across asset classes from a single account and wallet. Whether you’re chasing earnings, hedging exposure, or responding to global macro shifts, this upgrade delivers crypto-native speed, simplicity, and flexibility to global markets.
From Bitcoin to Wall Street and beyond, Bybit traders can now move fluidly between digital and traditional markets—leveraging the power of stablecoins to access a full spectrum of global opportunities in real time.
Why This is a Game Changer
- Access Top Global Stocks: Including Apple ($AAPL), Tesla ($TSLA), Meta ($META), Nvidia ($NVDA), Amazon ($AMZN), and more—all now live on Bybit Gold & FX (MT5).
- One Platform, All Trading: Trade crypto, stocks, gold, oil, indices, and forex—all using USDT.
- Seamless, Crypto-Native Execution: No fiat required. No barriers. Just pure trading freedom.
Whether you’re hedging crypto volatility with gold, speculating on oil or forex, or investing in tech stocks, Bybit’s enhanced Gold & FX offering opens the door to a truly unified financial experience.
Wall Street Meets Web3: Limited-Time Launch Offer
To celebrate this milestone, Bybit is launching the “Wall Street meets Web3” campaign. From June 2 to June 15, 10:00 (UTC), all users will receive a 50% discount on trading fees for stock trades made through Bybit Gold & FX. It’s your chance to explore the future of finance—where the flexibility of crypto meets the legacy of Wall Street—at half the cost.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Blockchain Press Releases
ETH on the Rise: Bybit x Block Scholes Report Reveals Optimistic Market Signals
DUBAI, UAE, May 19, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, released a new weekly crypto derivatives analytics report in collaboration with Block Scholes, detailing the interplay between BTC and ETH’s rapid ascend in the past week, with ETH in the lead gaining 40% in spot prices. Bybit’s trading data recorded positive funding data across the board with positive futures curves and call-side volatility smiles at all tenors.
Key Highlights:
- ETH’s Winning Streak: The spell of good news moved markets in the last few days, adding some $900M in ETH open interest in the rally which peaked between May 11 and 12. Crypto’s second favorite poster child overtook BTC for the second week in a row, and derivatives indicators suggest further upside as investors put more calls than puts on the table, readying ETH for another surge.
- BTC Volatility: BTC’s return to $100K since early February coincided with the broader bullish ambience, with its short-term volatility dropped to a low 38%. A 5% skew towards OTM calls suggests continued risk-on sentiment, despite put options dominating with over $200M in volume compared to $140M for calls.
Access the Full Report
For detailed insights, readers may download the full report.
#Bybit / #TheCryptoArk /#BybitResearch
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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View original content:https://www.prnewswire.co.uk/news-releases/eth-on-the-rise-bybit-x-block-scholes-report-reveals-optimistic-market-signals-302458983.html
Blockchain Press Releases
MEXC Launches Pizza Day Lucky Wheel Event Offering Over $100,000 in BTC and Hot Tokens
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.
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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