Cango Inc. Announces Operational Performance for March 2026, Enhancing Mining Fleet Efficiency and Production
Dallas, (ANTARA/PRNewswire) - Cango Inc. (NYSE: CANG), a leading company mining Bitcoin to develop an integrated platform based on energy and AI computing through global operations, has announced its operational performance for the March 2026 period. Cango is now directing its strategy towards improving cash margins, rather than simply expanding operational scale. This step is being taken by Cango through optimising the mining fleet, halting inefficient mining machines, implementing alternative models such as hashrate leasing in several regions with high hosting costs, and relocating mining capacity to locations with lower energy costs.
Operational Strategy: Targeted Efficiency and Risk Mitigation
As of 31 March 2026, Cango’s operational hashrate was recorded at 37.01 EH/s, derived from a combination of owned mining fleets and hashrate leasing schemes. This leaner production model emphasises margin resilience over mere capacity expansion.
Modernisation of Mining Fleet & Work Area Relocation: Cango is selectively upgrading hardware on portions of its older fleet. Cango also operates S21/S21XP series miners in regions with high electricity costs such as Paraguay and Oman, to maximise energy efficiency and reduce operational costs. At the same time, relocation of the fleet to regions with lower electricity costs continues.
Profit-Sharing Collaboration: Cango is also implementing profit-sharing schemes with hosting partners in high-cost locations, particularly for the remaining duration of ongoing contracts. Through this approach, both parties maintain operational continuity amid market volatility.
Although the optimisation process is still ongoing, Cango continues to maintain positive cash margins at every location as protection against risks of declining core business performance.
More Efficient Cost Management
The implementation of a leaner production model has a direct impact on reducing production costs. In March 2026, Cango recorded an average cash cost per Bitcoin of US$68,215.83—a 19.3% decrease compared to the average of US$84,552 in Q4-2025. This cost structure improvement strengthens Cango’s operational position, making it more independent and sustainable.
Debt Reduction Strategy
Throughout March, Cango strategically sold 2,000 Bitcoins, with the proceeds used to repay Bitcoin-based loans. As of 31 March 2026, the total outstanding Bitcoin-based loans amounted to US$30.6 million, while the company’s asset reserves reached 1,025.69 Bitcoins. This debt reduction initiative, supported by recent capital injections—including US$65 million in equity investment from management, as well as US$10 million in convertible bonds from DL Holdings—strengthens Cango’s financial balance sheet. This also supports Cango’s transformation plans towards energy and AI computing infrastructure.
Contact: ir@cangoonline.com
SOURCE: Cango Inc.