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Cango Inc. added 7.65 BTC to its treasury in May 2026, bringing its total Bitcoin holdings to 1,065.11 BTC.
The great Bitcoin sell-off of 2026
In early February 2026, Cango sold 4,451 BTC for approximately $305 million. The company used the proceeds primarily to repay outstanding debts.
Then in March, another 2,000 BTC went out the door to reduce Bitcoin-backed loans, which brought Cango’s debt down to $30.6 million. After that sale, the company was left holding just 1,025.69 BTC.
The April 30 figure stood at 1,057.46 BTC, meaning the company added roughly 32 BTC between the end of March and end of April before tacking on the 7.65 BTC in May.
Mining efficiency over mining volume
Cango reported an operational hashrate of 31.58 EH/s in April 2026. The company mined approximately 230 BTC in April.
Cango reported a 19.3% reduction in average cash costs per mined Bitcoin as of March 2026.
The AI pivot and what it means for investors
The $305 million from February’s Bitcoin sale wasn’t just about paying off debt. Cango has been vocal about redirecting capital toward AI computing infrastructure, joining a growing list of crypto mining companies that see their energy-intensive data center operations as a natural bridge to AI workloads.
For Cango specifically, the transition means the company’s Bitcoin treasury is no longer the primary indicator of corporate health. Investors now need to evaluate Cango on the strength of its AI strategy, its mining efficiency, and its ability to generate sustainable cash flows from diversified operations.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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