Cango releases Q1 2026 financial report with total revenue reaching 102 million USD

According to official sources cited by Odaily, Cango has announced its unaudited financial results for the first quarter of 2026. During the reporting period, the company achieved a total revenue of $102 million, of which the Bitcoin mining business contributed $98.4 million. A total of 1,266 Bitcoins were mined this quarter. Due to non-cash accounting treatment related to the decline in the market price of Bitcoin, the net loss was $261.1 million. In addition, the company's long-term debt fell 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 the new commercial platform EcoHash, officially expanding into the AI computing power field, and reached a strategic cooperation with Hong Kong-listed company DL Group.