Cango releases Q1 2026 financial results with total revenue of $102 million

Odaily reported that according to official sources, Cango 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. Affected by non-cash accounting treatment due to the decline in Bitcoin market prices, the net loss was $261.1 million. In addition, the company's long-term debt decreased from $557.6 million at the end of 2025 to $30.6 million, a decrease 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 field, and has reached a strategic cooperation with DL Group, a Hong Kong-listed company.