Cango Posts Q2 Loss Amid Strategic Shift Towards AI Infrastructure

Cango Inc., a bitcoin miner and AI infrastructure company, reported a net loss of $81.6 million in Q2 2026 due to non-cash impairment and disposal charges.

The company's revenue dropped 50% sequentially to $50.8 million as it deliberately scaled back mining operations.

Cango mined 656 bitcoins in the quarter, with mining revenue of $47.4 million.

Average cash mining cost fell 35% from Q1 to $73,313 per bitcoin, showing better operating efficiency.