Cango sells 4,451 BTC to repay debt, shifts focus to AI
6.6 Investments Cango mined 6,594.6 BTC in 2025, earning $688.1M but posting a $452.8M net loss. In 2026, it sold 4,451 BTC to repay debt and fund a shift toward AI infrastructure.
Cango, a Chinese automotive transaction service platform, completed its first full year as a dedicated Bitcoin miner in 2025. The company generated $688.1 million in revenue, with $675.5 million coming from Bitcoin mining and a total production of 6,594.6 BTC. Despite strong revenue, Cango reported a net loss of $452.8 million, mainly due to high production costs—about $97,000 per Bitcoin—and impairment charges on mining equipment. In February 2026, Cango sold 4,451 BTC to repay a substantial loan, reduce debt, and strengthen its balance sheet. The proceeds from this sale are also being used to support a strategic pivot toward AI infrastructure, marking a significant shift in the company’s business focus. Cango’s move reflects broader industry trends, with public miners increasingly selling Bitcoin to fund AI developments amid volatile market conditions and rising operational costs.
