Slide 1: Investor Presentation July 2025
CANGO Investor Presentation July 2025
Slide 2: Disclaimer
Disclaimer CANGO This presentation has been prepared by Cango Inc. (the “Company”) solely for information purpose and has not been independently verified. By viewing or accessing the information contained in this material, the recipient hereby acknowledges and agrees that no representations, warrant
Slide 3: Hashrate comparison versus peer miners
⚫ ⚫ ⚫ 57.4 ⚫ 50 50 50 ⚫ ⚫ ⚫ ⚫ 35.5 ◆ ◆ Miner A CANGO Miner B Miner C Miner D 2
Slide 4: Snapshot
Snapshot CANGO About Cango A rapidly emerging leader in institutional Bitcoin mining, Cango combines scalable infrastructure, operational excellence, and strategic financial discipline to maximize returns in the dynamic digital asset market. 50 EH/s Our Strategy Vertically Integrated Technology + As
Slide 5: Worldwide Hashrate and Capacity Layout
Worldwide Hashrate and Capacity Layout CANGO USA - 57% ~ a East Africa- 26% 3 MW Operating Capacity d Hashrate B13 EH/s d Hashrate — 7 fn : : 2 fA 40+ Sites \Y In 4 Geographies 4 1,200 MW Total Operating Capacity 50 EH/s Deployed Hashrate Paraguay - 6% Oman - 11% 63 MWO n y 1B7MW 3 EH/s Deg Data as
Slide 6: Rapid Deployment, Capital-Light, Strategic Optionality
Rapid Deployment: Minimize downtime, scale quickly. Ready to be operational anytime Capital-Light: Shift infrastructure and operation burden to hosting provider; focus capital on mining rigs. Strategic Optionality: Flexibility to relocate without sunk costs. Adaptive to changing regulatory/energy la
Slide 7: Mining Machine Overview
Mining Machine Overview CANGO ~260K ~46% ~B4% On-rack SI9XP Hyd. SIOXP, S19} XP Machines Data as of June 30,2025 SOURCE: Company data. 6|
Slide 8: Fleet efficiency and monthly metrics
21.6 21.5 18.6 17.1 16.8 16.6 15.7 15.6 14.8 15.0 Q4 2024 Q1 2025 Jan.2025 Feb.2025 Mar.2025 Apr.2025 May 2025 Jun.2025 Q4 2024 Q1 2025 7
Slide 9: Peer comparison of mining metrics
27.1 24.4 21.5 21.1 21.0 19.3 17.1 16.7 17.0 16.5 16.6 15.8 15.3 13.7 10.6 Miner B Miner A Miner C CANGO Miner D Miner A Miner B CANGO Miner C Miner D Miner B CANGO Miner C Miner A Miner D 8
Slide 10: Hashrate growth: Q3 2024 to 2026E
75 EH/s1 50 EH/s 32 EH/s 32 EH/s 0 EH/s Q3 2024 Q4 2024 Q1 2025 Q2 2025 2025E 2026E 9
Slide 11: Monthly production Nov 2024 to Jun 2025
• 3,879.2 3,429.3 2,944.8 2,474.8 • 1,944.7 1,472.0 933.8 363.9 • Nov. 2024 Dec. 2024 Jan. 2025 Feb. 2025 Mar. 2025 Apr. 2025 May. 2025 Jun. 2025 10
Slide 12: Bitcoin holdings trend
30 25 24 21.9 20 15 10 9 5 0 2024/12/1 2025/3/1 2025/6/1 11
Slide 13: Building Green Energy-Powered Bitcoin Mining Infrastructure
Building Green Energy-Powered Bitcoin Mining Infrastructure CANGO Design and build power station and data centre tailored to Cango’s needs, solidifying our transformation strategy into "energy + computing power’. As the new leader in hashrate capacity, Cango strategically sources the world's cheapes
Slide 14: Our Future Vision: Beyond the Block
Our Future Vision: Beyond the Block CANGO Cango's Playbook: Shaping Our Future in the Digital Asset Market Expand BTC Mining Operations ile optimizing exis to enhance ind profitability Prioritize Sustainable Energy efficient 1 Optimize BTC Holdings Maintain Bitcoin holding t Invest in Blockchain Val
Slide 15: First Quarter Financial Performance
First Quarter Financial Performance CANGO $ in millions, unaudited, expect for margins Total Revenues Cost of Revenues Gross Profit Gross Margin Sales and Marketing General and Administrative Research and Development Net (Loss) Income Add: Adjust Items Adjusted EBITDA SOURCE: Company data. Q1 2025 1
Slide 16: First Quarter Financial Performance (continued)
First Quarter Financial Performance (continued) CANGO $ in millions, unaudited Adjusted EBITDA $3.8 Revenue ($108.8) —f- Income from Operations jet Income Cash Cost of Mining! 1. Cash Cost of Mining includes energy costs and hosting fees. SOURCE: Company data. 15
Slide 17: Thank You