Bitcoin miner Cango sold 2,000 Bitcoin in March and reduced its production cost by 19.3% to $68,215 per coin as part of a strategic pivot toward efficiency and debt reduction.
The company said the cost decline from $84,552 in the fourth quarter of 2025 reflects a shift to a “lean-production model” focused on margin resilience amid ongoing Bitcoin price volatility.
Cango reported selling the Bitcoin at an average price between $68,000 and $69,000, generating roughly $137 million to pay down outstanding Bitcoin-backed loans.
As of March 31, the company held 1,025.69 BTC in its treasury alongside $30.6 million in remaining Bitcoin-backed debt, highlighting a continued focus on balance sheet deleveraging.
Cango also disclosed a $65 million equity investment from its leadership team and a $10 million convertible bond from DL Holdings as it accelerates its transition into energy and artificial intelligence infrastructure, while its share price rose 3.44% in pre-market trading but remains down around 72% year-to-date.
The company ranks as the world’s sixth-largest Bitcoin miner by hashrate with 27.9 exahashes per second, representing 2.82% of global network power, and reported total operational capacity of 37.01 EH/s including leased capacity.
Cango’s move mirrors a broader industry trend, with firms such as MARA Holdings selling Bitcoin to strengthen balance sheets, while Michael Saylor’s Strategy continues accumulating Bitcoin despite significant unrealised losses.
At the time of reporting, Bitcoin price was $71,037.70.