Cango Posts Q2 Net Loss of $81.6 Million Amid Mining Machine Impairments

Cango, a Bitcoin mining company listed on the New York Stock Exchange (NYSE), reported a net loss of $81.6 million for Q2 2026.

The total revenue was $50.8 million, approximately halved compared to Q1.

The losses were primarily due to a non-cash impairment of mining machines amounting to $42.9 million and a disposal loss of $8.5 million.

CFO Simon Tang stated that Bitcoin hedging has been initiated, with short positions recorded on the balance sheet to manage price volatility rather than for speculation.