HC Wainwright Maintains Positive Outlook on CanGu
In a recent report published on September 2, 2025, HC Wainwright, a prominent U.S. investment analysis firm, has maintained a positive stance on CanGu, also known by its stock ticker CANG. The firm has reaffirmed its “Buy” recommendation and raised the price target for the stock to $8.00. This endorsement comes as Cango undergoes a significant strategic pivot towards Bitcoin mining, which the firm sees as a promising avenue for long-term growth.
Financial Performance and Strategic Developments
The financial results from the second quarter of 2025 revealed that Cango experienced a notable net loss of 2.1 billion RMB, attributed primarily to unique one-time costs rather than core operational deficiencies. Analysts have highlighted that these one-time accounting adjustments mask the company’s actual financial health, as operational performance remains robust.
In fact, despite the adjustments, Cango reported an adjusted EBITDA of 710.1 million RMB, with an overwhelming 98.9% of its revenue stemming from Bitcoin mining activities.
Strategic Investments in Renewable Energy
Moreover, the report lauds Cango’s strategies in tapping into the renewable energy market, marking a significant asset-light approach that is crucial for the company’s future scalability and efficiency. Recently, Cango made a key acquisition by securing a 50-megawatt Bitcoin mining facility in Georgia, USA, which is expected to greatly reduce energy expenses and bolster operational capabilities.
This strategic investment aligns with current Environmental, Social, and Governance (ESG) trends, positioning the company for both financial and ecological sustainability while poised to reap benefits from operational cost efficiencies.
