Cango's Financial Performance: Cango Inc. reported a 60.6% increase in revenue for Q3, reaching $224.6 million, driven by new mining capacity and rising bitcoin prices, despite facing challenges from the volatile cryptocurrency market.
Transition to AI Compute Grid: The company is shifting its focus from bitcoin mining to establishing a global, distributed AI compute grid, aiming to leverage renewable energy and provide high-performance computing services for AI applications.
Challenges in Bitcoin Mining: Cango's bitcoin mining output has fluctuated, with recent declines in production and profitability due to increased competition and falling bitcoin prices, leading to concerns about the sustainability of its mining operations.
Strategic Infrastructure Development: Cango plans to invest in GPU computing power leasing and regional AI computing infrastructure, including data centers and green energy projects, to position itself as a utility-like provider for large-scale AI applications.
Wall Street analysts forecast CANG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CANG is 3.50 USD with a low forecast of 3.00 USD and a high forecast of 4.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
Wall Street analysts forecast CANG stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CANG is 3.50 USD with a low forecast of 3.00 USD and a high forecast of 4.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Buy
0 Hold
0 Sell
Moderate Buy
Current: 1.310
Low
3.00
Averages
3.50
High
4.00
Current: 1.310
Low
3.00
Averages
3.50
High
4.00
Greenridge
analyst
initiated
$4
2025-12-22
Reason
Greenridge
analyst
Price Target
$4
AI Analysis
2025-12-22
initiated
Reason
Greenridge initiated coverage of Cango with a Buy rating and $4 price target. Cango entered the Bitcoin mining space last November after divesting its auto-related business and is now a "market leading" Bitcoin mining and treasury company, says the analyst, who believes the company is "mispriced and overlooked by the market."
H.C. Wainwright
Buy
downgrade
$8 -> $3
2025-12-04
Reason
H.C. Wainwright
Price Target
$8 -> $3
2025-12-04
downgrade
Buy
Reason
H.C. Wainwright lowered the firm's price target on Cango to $3 from $8 and keeps a Buy rating on the shares. The firm cites "rational reflection of market dynamics" for the target cut. Cango's focus on energy-plus-compute along with the November direct listing of its ordinary shares "reduces structural friction for U.S. investors and broadens the potential investor base," the analyst tells investors in a research note.
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H.C. Wainwright
Buy
initiated
$8
2025-07-23
Reason
H.C. Wainwright
Price Target
$8
2025-07-23
initiated
Buy
Reason
H.C. Wainwright initiated coverage of Cango with a Buy rating and $8 price target. The firm says Cango's relationship with Bitmain facilitates acquiring below-market cost hash rate addition and its "robust" balance sheet allows for "aggressive growth."
About CANG
Cango Inc is a holding company principally engaged in the crypto mining business. The Company primarily operates through two segments. The Bitcoin Mining Business segment is principally engaged in crypto mining operation. The Company is rewarded with bitcoins from mining pools in exchange for the hash calculation to the mining pool operators. The Company has deployed its mining operation across strategic locations including North America, Africa and Asia. The Automobile and Related Business segment is engaged in the operation of an online international used car export business through AutoCango.com to provide pre-sale automobile trading solutions and post-sale after-market services facilitation.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
