Key Insights:
- Recent Bitcoin mining news indicates that BTC miner Cango sold 2,000 BTC (~$137M) in March to reduce Bitcoin-backed debt.
- Production costs dropped 19% to ~$68,215 per BTC after shifting to a leaner model.
- This strategy focuses on margin resilience and coping with Bitcoin price volatility.
- The company is deleveraging while pivoting toward energy and AI infrastructure.
The latest Bitcoin mining news indicates that mining firm Cango said on Wednesday that it sold 2,000 Bitcoin in March to reduce debt and improve efficiency in its mining business. The move is part of the company’s transition toward energy and AI infrastructure.
That strategy also helped lower its Bitcoin production cost. Cango said the cost fell to $68,215 per coin, down 19.3% from the fourth-quarter 2025 average cash cost of $84,552 per coin.
According to its monthly operations report, Cango said the lower cost came from running a leaner mining operation. Rather than focusing solely on growth, the company said it is now trying to protect profit margins and better handle price swings in Bitcoin. That shift already appears to be showing results.
Bitcoin Mining News: BTC Miner Cango Sold 2,000 BTC At An Average Bitcoin Price of $68K
According to recent Bitcoin mining news, Cango sold its 2,000 BTC at an average price of $68,000 to $69,000 per coin, bringing in about $137 million. The company said it then used that money to reduce debt tied to its Bitcoin holdings.
By March 31, Cango still had $30.6 million in loans backed by Bitcoin on its books. Even after the sale, it was still holding 1,025.69 BTC in its treasury.
The update fits into a broader trend among public Bitcoin miners. With financing conditions still tight, some companies are putting more weight on balance sheet repair and cash efficiency than on aggressive expansion.
Recent Bitcoin mining news also indicates that Cango said members of its leadership team made a $65 million equity investment in the company. In addition, DL Holdings provided a $10 million convertible bond. Looking ahead, Cango said it plans to keep reducing leverage as it advances its transition toward energy and AI infrastructure.
Cango Ranks Sixth By Hashrate
Cango has grown into one of the biggest Bitcoin miners in the world. According to onchain insights from BitcoinMiningStock, Cango ranks sixth among the largest hashrate producers, with 27.9 exahashes per second.
The company said its total operational hashrate reached 37.01 EH/s during the period, according to its Bitcoin mining news report. Most of that came from its own mining operations, which accounted for 27.9 EH/s, while hashrate leasing added another 9.02 EH/s.
Investors appeared to welcome the update, at least at first. Cango shares rose 3.44% in pre-market trading on Wednesday. Even so, the stock remains deeply down for the year. Google Finance data showed the shares had fallen about 72% year to date.
Cango’s Bitcoin sale also fits a wider pattern in the industry. More listed crypto firms have started selling part of their holdings to shore up balance sheets and manage debt pressure.
MARA Holdings, the second-largest Bitcoin miner, made a similar move in March. The company said it sold about $1.1 billion worth of Bitcoin and used the money to buy back convertible debt at a discount.
At the other end of the spectrum, Strategy has kept buying. Michael Saylor’s company disclosed on Monday that it bought another $330 million worth of Bitcoin at an average price of $67,718 per coin. That move came even as its unrealized losses on paper climbed past $14.5 billion in the first quarter of the year.