Cango has released its unaudited financial results for the first quarter of 2026. According to Odaily, the company reported total revenue of $102 million, with its Bitcoin mining operations contributing $98.4 million. During the quarter, Cango mined a total of 1,266 Bitcoins. The company recorded a net loss of $261.1 million, influenced by non-cash accounting adjustments due to the decline in Bitcoin market prices. Additionally, Cango's long-term debt decreased significantly by 94.5%, from $557.6 million at the end of 2025 to $30.6 million. By the end of the quarter, Cango held 1,026 Bitcoins as part of its digital asset reserves.

In a strategic move, Cango launched a new business platform, EcoHash, marking its expansion into the AI computing power sector. The company also entered into a strategic partnership with Hong Kong-listed DL Group.