Cango Inc. reported $688.1M revenue and $452.8M net loss in 2025, its first full year as a Bitcoin miner, due to impairment and fair-value adjustments. It sold 5,166 BTC in early 2026 to repay debt and is converting mining sites to AI inference infrastructure.
Bitcoin miner Cango liquidated 6,451 BTC for $442M to repay crypto-backed loans, reducing debt to $30.6M. The firm also raised $75M in equity and convertible notes to fund its pivot to AI computing.
Cango Inc. sold 6,451 BTC for ~$442M in Feb-Mar 2026 to repay crypto-backed loans, while raising $75M in new capital to transition its mining infrastructure toward AI computing services.
Cango Inc. liquidated 6,451 Bitcoin in February-March 2026 for about $442 million to repay crypto-backed loans, while raising $75 million via equity and convertible notes to transform its mining infrastructure into AI computing for small and medium enterprises. Bitcoin reserves dropped to 1,025 BTC; hashrate fell to 37 EH/s as the company strategically pivots away from pure mining.
Cango Inc. sold 6,451 BTC in Feb-Mar 2026 for about $442M to repay crypto-backed loans, while raising $75M via equity and convertible notes to fund a transition to AI computing services. Hashrate dropped to 37 EH/s.
Bitcoin miner Cango sold 6,451 BTC in Feb-Mar 2026, netting ~$442 million to repay crypto-backed loans, while raising $75 million via equity and convertible notes to fund its transition to AI computing.
Cango Inc. sold 6,451 Bitcoin in February-March 2026 for ~$442M to clear crypto-backed loans, while securing $75M in new funding to transition mining infrastructure into AI computing services.
Cango Inc. sold 6,451 BTC in Feb-Mar 2026, generating ~$442M to repay crypto-backed loans, while raising $75M in new capital to pivot to AI compute services. Hashrate dropped to 37.01 EH/s, Bitcoin treasury fell to 1,025.69.
