Cango said it sold 2,000 Bitcoin in March 2026 and reduced its production costs by nearly 20% as the miner shifts focus toward improving margins and lowering debt amid volatile crypto markets.

The company said its average cost of producing one Bitcoin fell by 19.3% in the fourth quarter of 2025 following a move to a leaner operating model prioritizing efficiency over scale.

Cango sold the tokens at an average price between $68,000 and $69,000, generating about $137 million, which it used primarily to pay down Bitcoin-backed loans.

As of March 31 2026, the firm held about 1,026 Bitcoin and had $30.6 million in outstanding crypto-backed debt, according to its monthly operational update.

The move underscores a broader trend among listed crypto miners to deleverage and strengthen balance sheets as financing conditions tighten, even as some firms pivot toward energy and artificial intelligence infrastructure.

BITCOIN | One of the Leading Bitcoin Miners Globally Reports Over $400 Million in Losses in 2025

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