Cango Reports $102M Q1 Revenue, Bitcoin Mining Output 1,266 BTC, Launches EcoHash AI Platform

According to BlockBeats, Cango Inc. (NYSE: CANG) reported total revenue of $102 million in Q1 2026 on June 1, with bitcoin mining contributing $98.4 million and 1,266 BTC mined during the quarter. The company significantly deleveraged, cutting long-term debt from $557.6 million at year-end 2025 to $30.6 million, a 94.5% reduction. As of quarter-end, Cango held 1,026 BTC and received a $65 million capital injection from its chairman, strengthening liquidity.

Despite a $261.1 million net loss primarily from non-cash impairments related to bitcoin price declines, core mining cash flow remained healthy. Operating hashrate reached 37.01 EH/s. The quarter's key milestone was the launch of the EcoHash AI computing platform with modular containerized units, marking the company's strategic pivot toward AI computing networks alongside its bitcoin mining foundation.