Cango (NYSE:CANG), a global Bitcoin miner and energy infrastructure developer, announced its March 2026 operational update on April 8, detailing a strategic pivot toward a lean-production model that prioritizes cash margins over aggressive scale.
As of March 31, 2026, Cango’s total operational hashrate reached 37.01 EH/s.
This capacity is composed of 27.98 EH/s from the company's core self-mining fleet and 9.02 EH/s through strategic hashrate leasing arrangements.
The shift toward leasing in certain regions allows the company to maintain a presence in high-hosting-fee areas without committing to long-term capital-intensive infrastructure.
The impact of the new operational strategy was reflected in the company’s production economics.
Cango reported a 19.3% reduction in its average cash cost per coin, which fell to $68,215.83 compared to the fourth quarter of 2025.
The company achieved these savings by decommissioning inefficient hardware and migrating a significant portion of its fleet to lower-cost power jurisdictions.
Specifically, the deployment of energy-efficient S21 and S21XP series miners in regions like Paraguay and Oman has allowed the company to offset elevated electricity rates.
During the month, Cango took proactive steps to strengthen its balance sheet.
The company sold 2,000 BTC from its holdings, utilizing the proceeds to retire outstanding Bitcoin-backed loans.
Following these transactions, Cango held 1,025.69 BTC in its corporate treasury at month-end.
The operational update comes on the heels of several major capital transactions.
On March 31, 2026, Cango closed a $65 million strategic equity investment from its leadership team and secured a $10 million convertible note from DL Holdings.
These funds are earmarked for the company's broader transition into integrated energy solutions and distributed AI compute infrastructure.
Looking ahead, Cango plans to continue its fleet modernization program while exploring "Storage-as-a-Service" and AI compute pilots at its existing mining sites.