Cango Inc. Reports Second Quarter 2026 Unaudited Financial Results
Cango reported second quarter 2026 revenue of $50.8 million, down 50% from the prior quarter, due to a proactive reduction in hashrate and the disposal of older mining machines. The company recorded a net loss of $81.6 million, primarily driven by non-cash impairment and disposal losses, while holding 1,056 Bitcoins and $10.1 million in cash. Operational efficiency improved with average cash cost per Bitcoin falling 5% sequentially to $73,313, and the company launched a Bitcoin hedging program to manage price volatility.
Key figures
- Revenue
- 50800000
- Hashrate
- 27.58 EH/s
- Net loss
- 81600000
- Btc treasury
- 1056
- Bitcoins mined
- 656
- Cash cost per btc
- 73313
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