Cango Inc. Announces March 2026 Operational Update; Strategically Optimizing Mining Fleet and Improving Production Economics USA - English India - English APAC - English
DALLAS, April 8, 2026 /PRNewswire/ -- Cango Inc. (NYSE: CANG), a leading Bitcoin miner leveraging its global operations to develop an integrated energy and AI compute platform, today announced its operational update for March 2026. Cango is strategically optimizing its mining operations to prioritize cash margin over scale. This includes refining the mining fleet, decommissioning inefficient miners, deploying alternative models such as hashrate leasing in regions with high hosting fees, and migrating capacity to lower-cost power regions.
Operational Strategy: Targeted Efficiency and Risk Mitigation
As of March 31, 2026, Cango's total operational hashrate stood at 37.01 EH/s, consisting of core self-mining fleet and hashrate leasing arrangements. This lean-production model prioritizes margin resilience over raw scale.
Category
Hashrate (EH/s)
Self-Mining
27.98
Hashrate Leasing
9.02
Total Operational Hashrate
37.01
While some optimization efforts remain ongoing, Cango's focus is ensuring positive site-level cash margins for greater downside protection of its core mining business.
Proactive Cost Management
The shift toward a lean-production model has resulted in a substantial reduction in unit production costs. In March 2026, Cango achieved an average cash cost per coin of $68,215.83. This represents a 19.3% reduction compared to the average cash cost of $84,552 per coin reported in Q4 2025. This improved cost basis positions Cango's mining operations on a self-sustaining footing.
Strategic De-leveraging
In March, Cango completed a strategic sale of 2,000 Bitcoins, with proceeds used to retire outstanding Bitcoin-backed loans. As of March 31, 2026, Cango's total outstanding Bitcoin-backed loan balance was $30.6 million, with a treasury position of 1,025.69 Bitcoins. This de-leveraging, combined with recent capital infusions including a $65 million equity investment from leadership and a $10 million convertible bond from DL Holdings, strengthens Cango's balance sheet to support its planned transition into energy and AI infrastructure.
Contact: [email protected]
SOURCE Cango Inc.