Slide 1: Q4 2024 Earnings Presentation
Q4 2024 Earnings Presentation March 2025
Slide 2: Disclaimer
Disclaimer 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, warranties or
Slide 3: Q4 Highlights: A Whole New Future in Crypto Mining World
Q4 Highlights: A Whole New Future in Crypto Mining World Strategic Pivot • Transitioned to BTC mining via capital-light model; Secured 32 EH/s hashrate, ranking 3rd globally; an additional 18 EH/s of capacity is planned for the second batch Operational Excellence • Achieved 933.8 BTC production in Q
Slide 4: Financial & Operational Highlights
Q4 2024 Financial & Operational Highlights $ in millions $91.5 $89.5 $345.3 Total Revenue BTC Revenue Liquidity 1 32EH/s 933.8 933.8 Deployed Hashrate BTC Mined BTC Holdings 1. Liquidity is the sum of cash and cash equivalents and short-term investments. SOURCE: Company data. 3
Slide 5: BTC Mining Production Highlights (Continued)
2024 BTC Mining Production Highlights (Continued) Total Hashrate EH/s BTC Mined As of December 31, 2024 In Q4 2024 CANGO KEY MINING METRICS 53.2 Unit: EH/s 2,492.0 Unit: Coins 1,945.0 39.1 32.0 1,516.0 31.5 933.8 1 974.0 19.1 Miner A Miner B CANGO Miner C Miner D 32 EH/s 933.8 Miner A Miner B CANGO
Slide 6: BTC Mining Production Highlights
2024 BTC Mining Production Highlights BTC Mined per day BTC Mined per EH/s In Q4 2024 In December 2024 Unit: Coin Unit: Coin 27.1 17.8 21.1 17.1 • Achieves industry-leading position in computing power 16.7 18.6 16.4 16.5 • Operates with competitive efficiency among industry peers 10.6 15.2 Miner A M
Slide 7: Worldwide Mining Facilities
2024 Worldwide Mining Facilities Canada USA Oman East Africa Paraguay Data as of December 2024 6
Slide 8: Worldwide Mining Facilities (Continued)
2024 Worldwide Mining Facilities (Continued) Hashrate by Countries Hashrate by Machines Canada 1% Paraguay USA 9% S19XP, S19j XP 38% Oman S19XP Hyd. 12% 15% 88% East Africa 37% Country Machines Deployed USA 76% S19XP Hyd., and 24% S19XP, S19j XP • 38% of our mining machines are allocated in the USA,
Slide 9: Financial Performance
Q4 2024 Financial Performance $ in millions, unaudited Q4 2024 Total Revenues 91.5 Cost of Revenues 75.4 Gross Profit 16.1 Gross Margin 17.59% Sales and Marketing 0.3 General and Administrative 17.5 Research and Development 0.2 Income from Operations 3.1 Operations Margin 3.4% SOURCE: Company data.
Slide 10: Financial Performance for BTC Mining Segment
Q4 2024 Financial Performance for BTC Mining Segment $ in millions Cash Cost of Mining 1 EBITDA $89.5 ($63.2) Margin Operating Margin 25.47% Change in Fair Value of Mining Machines 12.63% BTC Collateral Depreciations ($3.4) $22.8 ($11.5) $11.3 2 Revenue EBITDA Operating Income 2 1. Cash Cost of Mini
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