Bitcoin Miner Cango Offloads 2,000 BTC, Achieves 19% Reduction in Mining Costs During March
Cryptocurrency mining firm Cango reported selling 2,000 Bitcoin to settle outstanding debt while achieving a 19% decrease in production expenses as the company shifts focus toward energy and artificial intelligence infrastructure.
Cryptocurrency mining firm Cango announced on Wednesday that it successfully reduced its Bitcoin production expenses to $68,215 per coin, representing a 19.3% decrease in costs when compared to the average cash cost of $84,552 per coin that was documented during the fourth quarter of 2025.
According to the company's monthly operational report, Cango credited the cost reduction to its transition toward a "lean-production model" that emphasizes margin resilience rather than sheer scale. The company indicated that this reduction in production expenses will position the firm to better navigate Bitcoin price volatility.
During March, the company liquidated 2,000 Bitcoin (BTC) at an average selling price ranging between $68,000 and $69,000, a Cango spokesperson confirmed to Cointelegraph, generating approximately $137 million in revenue. According to Cango, these funds were allocated toward reducing Bitcoin-backed loan obligations. At the end of March 31, the company reported $30.6 million in outstanding Bitcoin-backed loans and maintained 1,025.69 BTC in its corporate treasury.
This operational update demonstrates how certain publicly traded Bitcoin mining firms are emphasizing deleveraging strategies and cash-margin discipline rather than pursuing raw scale expansion, particularly as financing conditions remain constrained. Additionally, Cango disclosed receiving a $65 million equity investment from members of its leadership team alongside a $10 million convertible bond from DL Holdings. The mining company stated it will maintain its de-leveraging efforts to facilitate its intended transition into energy and artificial intelligence (AI) infrastructure operations.
By hashrate, Cango ranks as the sixth-largest Bitcoin mining company globally, operating at 27.9 exahashes per second (EH/s), which represents 2.82% of the worldwide Bitcoin mining hash power, based on data provided by BitcoinMiningStock.
The firm disclosed a total operational hashrate of 37.01 EH/s, which comprises 27.9 EH/s dedicated to self-mining operations and 9.02 EH/s allocated to hashrate leasing activities.
During pre-market trading on Wednesday, Cango's stock price experienced a 3.44% increase, though the stock has declined approximately 72% on a year-to-date basis, based on data from Google Finance.
Bitcoin miners sell as Strategy continues to buy
The sale by Cango arrives at a time when other publicly listed Bitcoin-related companies have utilized treasury sales as a means to reinforce their balance sheets.
MARA Holdings, which holds the position of second-largest BTC mining operation, revealed that it liquidated approximately $1.1 billion worth of Bitcoin during March to repurchase convertible debt instruments at a discount.
However, the largest public holder of Bitcoin maintains its accumulation strategy. On Monday, Michael Saylor's Strategy announced a $330 million Bitcoin acquisition, purchased at an average cost of $67,718 per coin, even though paper losses on the company's holdings exceeded $14.5 billion throughout the first quarter of the year.