Bitcoin mining firm Cango mentioned Wednesday that it lowered its Bitcoin manufacturing value to $68,215 per coin, a 19.3% value discount in comparison with the typical money value of $84,552 per coin reported within the fourth quarter of 2025.
The corporate attributed the discount to its shift towards a “lean manufacturing mannequin” that prioritizes margin resilience over gross scale, based on its month-to-month working report. Cango mentioned that decreasing manufacturing prices will assist the corporate climate Bitcoin value volatility.
The corporate bought 2,000 Bitcoin ($BTC) in March at a mean value of between $68,000 and $69,000, a Cango spokesperson advised Cointelegraph, netting the corporate about $137 million. Cango mentioned the proceeds had been used to cut back excellent Bitcoin-backed loans. As of March 31, Cango had $30.6 million in excellent Bitcoin-backed loans and owned 1,025.69 $BTC in his treasury.
The replace exhibits how some publicly traded Bitcoin miners are prioritizing deleveraging and money margin self-discipline over gross scale as funding situations stay tight. Cango additionally reported a $65 million fairness funding from members of the corporate’s management workforce and a $10 million convertible bond from DL Holdings. The Bitcoin miner mentioned it is going to proceed to deleverage to assist its deliberate transition into vitality and synthetic intelligence (AI) infrastructure.
Cango is the world’s sixth-largest Bitcoin mining firm by hash charge, with 27.9 exahashes per second (EH/s), representing 2.82% of worldwide Bitcoin mining hash energy, based on knowledge from BitcoinMiningStock.
The corporate reported a complete working hashrate of 37.01 EH/s, together with 27.9 EH/s in self-mining and 9.02 EH/s in hashrate leasing.
Cango’s share value rose 3.44% in premarket buying and selling on Wednesday, however has fallen about 72% to this point this yr, based on knowledge from Google Finance.
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The Cango sale additionally comes as different Bitcoin-linked listed firms have used treasury gross sales to strengthen their steadiness sheets.
MARA Holdings, the second largest $BTC miner, revealed that he bought about $1.1 billion value of Bitcoin in March to purchase again convertible debt at a reduction.
Nonetheless, the biggest public holder of Bitcoin continues to build up. Michael Saylor’s technique on Monday revealed a $330 million Bitcoin acquisition, purchased at a mean value of $67,718 per coin, although paper losses on its holdings exceeded $14.5 billion in the course of the first quarter of the yr.
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