Cango Reports Q2 Bitcoin Mining Revenue Hits $47.4M Amid Ongoing Market Volatility

Cango, an NYSE-listed Bitcoin miner, reported its Q2 2026 earnings, revealing a total revenue of $50.8 million, with its Bitcoin mining segment contributing $47.4 million. The company mined 656 BTC during the quarter.

The net loss for Cango was $81.6 million, largely due to impairment charges and disposal losses tied to declines in mining rig values. These non-cash charges reflect the ongoing volatility in the market for mining hardware.

Cango's operating hash rate stood at 27.58 EH/s as of June 30, comprising 19.84 EH/s from self-mining and 7.74 EH/s from leased capacity. The company's average cash mining cost per BTC fell about 5% from the previous quarter to $73,313.