(SeaPRwire) –   DALLAS, April 8, 2026 — Cango Inc. (NYSE: CANG), a prominent Bitcoin mining company leveraging its global operations to develop an integrated energy and AI computing platform, released its operational update for March 2026 today. Cango is strategically enhancing its mining activities, emphasizing cash margin over sheer scale. This involves streamlining its mining fleet, retiring unproductive miners, implementing alternative strategies like hashrate leasing in areas with elevated hosting costs, and relocating capacity to jurisdictions offering more affordable power.

Operational Strategy: Focused Efficiency and Risk Reduction

By March 31, 2026, Cango reported a total operational hashrate of 37.01 EH/s, comprising its primary self-mining fleet and hashrate leasing agreements. This streamlined production approach emphasizes margin stability over absolute scale.

• Fleet Modernization & Geographic Relocation: Cango is strategically upgrading hardware within segments of its existing fleet. By deploying S21/S21XP series miners, particularly in areas with high power expenses like Paraguay and Oman, Cango utilizes their superior energy efficiency (J/TH) to mitigate electricity costs. Simultaneously, the company is progressively relocating its wider fleet to stable, more economical regions.
• Revenue Sharing Agreements: Cango has implemented a revenue-sharing framework at certain higher-cost locations with hosting partners for the duration of their remaining contracts. This cooperative structure harmonizes interests, ensuring continued operational viability for both Cango and its hosting partners amidst market fluctuations.

Although certain optimization initiatives are still in progress, Cango’s primary objective is to secure positive cash margins at the site level, thereby enhancing the downside protection for its core mining operations.

Proactive Expense Management

The adoption of a streamlined production model has led to a significant decrease in unit production expenses. For March 2026, Cango reported an average cash cost per coin of $68,215.83. This marks a 19.3% decrease from the average cash cost of $84,552 per coin recorded in Q4 2025. This enhanced cost structure places Cango’s mining activities on a self-sufficient foundation.

Strategic Debt Reduction

During March, Cango executed a strategic sale of 2,000 Bitcoins, utilizing the funds to repay outstanding Bitcoin-backed loans. By March 31, 2026, Cango’s total Bitcoin-backed loan obligations amounted to $30.6 million, while its treasury held 1,025.69 Bitcoins. This debt reduction, coupled with recent capital injections—including a $65 million equity investment from its leadership and a $10 million convertible bond from DL Holdings—fortifies Cango’s balance sheet, enabling its anticipated shift towards energy and AI infrastructure.

Contact: ir@cangoonline.com

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