Cango Posts Net Loss of $81.6 Million in Q2 2026 Amid Ongoing Cost Optimization Efforts

Cango Inc., a leading Bitcoin mining company, reported its unaudited financial results for the second quarter of 2026. The Company generated total revenue of $50.8 million, with Bitcoin mining operations contributing $47.4 million as the primary revenue source.

The Company recorded a net loss of $81.6 million for the quarter, primarily due to non-cash impairment and disposal losses on mining machines. As of period end, Cango held 1,056 Bitcoins as digital asset reserves, with long-term debt of $31.2 million.

Cango's mining operations and costs have been a focus area for the Company. To reinforce strict cost management, Cango continued to actively optimize its mining business scale by disposing of marginally efficient mining machines and partially adopting a leasing model.