Cango Reports Q1 2026 Financial Results with Bitcoin Mining Revenue

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.