Cango Reports Q1 2026 Financial Results with Total Revenue of $102 Million

Odaily Odaily Reports: According to official sources, Cango has announced its unaudited financial results for the first quarter of 2026. During the reporting period, the company achieved total revenue of $102 million, of which its Bitcoin mining business contributed $98.4 million, mining a total of 1,266 Bitcoins in the quarter. Impacted by a non-cash accounting treatment due to the decline in Bitcoin market price, the net loss was $261.1 million. Additionally, the company's long-term debt decreased from $557.6 million at the end of 2025 to $30.6 million, a reduction of 94.5%. As of the end of the quarter, the company held 1,026 Bitcoins as digital asset reserves.

At the same time, the company launched a new business platform, EcoHash, officially expanding into the AI computing power sector and has entered into a strategic partnership with DL Group, a Hong Kong-listed company.