Cango's Bitcoin Production Cost Cut

Cango sold 2,000 BTC in March, cutting its Bitcoin production cost by 19% to $68,215 per coin. The company attributed the reduction to its shift toward a “lean-production model” that prioritizes margin resilience over raw scale. This move will help Cango weather the volatility of Bitcoin prices. The sale of 2,000 BTC at an average price between $68,000 and $69,000 netted the company around $137 million, which was used to reduce outstanding Bitcoin-backed loans. As of March 31, Cango had $30.6 million in Bitcoin-backed loans outstanding and held 1,025.69 BTC in its treasury. Cango's update shows how some listed Bitcoin miners are prioritizing deleveraging and cash-margin discipline over raw scale as financing conditions remain tight. The company's planned transition into energy and artificial intelligence infrastructure will be closely watched, with the next quarterly report expected to provide further insight into its progress.