Cango ADRs Rise 13% as It Continues to Boost Bitcoin Production

Dow Jones

01-03

By Connor Hart

Cango's American depositary receipts were higher after the Chinese automotive platform said it accelerated its bitcoin production in December.

The ADRs gained 13%, to $4.98, on Thursday afternoon. They ended 2024 having more than quintupled, up 401%.

The company produced 569.9 bitcoin in December, compared with 363.9 a month earlier. It didn't sell any bitcoin during the month, bringing its number held to 933.8.

Bitcoin has experienced a surge following the U.S. election, boosted by anticipation of a more amenable regulatory environment under the administration of President-elect Donald Trump and the election of crypto-friendly lawmakers to Congress.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

January 02, 2025 14:04 ET (19:04 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.

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They ended 2024 having more than quintupled, up 401%. \n\n\n  The company produced 569.9 bitcoin in December, compared with 363.9 a month earlier. It didn't sell any bitcoin during the month, bringing its number held to 933.8. \n\n\n  Bitcoin has experienced a surge following the U.S. election, boosted by anticipation of a more amenable regulatory environment under the administration of President-elect Donald Trump and the election of crypto-friendly lawmakers to Congress. \n\n\n \n\n\n  Write to Connor Hart at connor.hart@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 02, 2025 14:04 ET (19:04 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0}}}