Cango pivots to efficiency as Bitcoin production hits 230 BTC in April

Cango (NYSE:CANG) provided its monthly operational update for April 2026, revealing a strategic shift toward margin preservation and fleet modernization over aggressive scale.

As the Bitcoin mining landscape becomes increasingly competitive, the company reported a total operational hashrate of 31.58 EH/s as of April 30, 2026.

This capacity is divided between 20.43 EH/s dedicated to self-mining and 11.15 EH/s utilized through leasing agreements.

The company successfully produced 230.04 BTC during the month.

However, reflecting the higher difficulty and energy costs currently prevalent in the sector, the average cash cost per coin was reported at $68,061.

To bolster its long-term viability, Cango has accelerated the decommissioning of its legacy S19 units, replacing them with more efficient S21 miners.

This upgrade is central to the company’s goal of lowering its fleet-wide energy intensity.

Cango currently operates across 26 active sites, with 20 facilities dedicated to self-mining and 6 to its leasing business.

By concentrating on energy-efficient infrastructure, management aims to prioritize higher-margin output even if total hashrate growth remains measured in the near term.

The company’s treasury remains a core component of its balance sheet strength.

As of the end of April, Cango held 1,057.46 BTC.