{"id":70865,"date":"2026-04-09T04:53:55","date_gmt":"2026-04-09T04:53:55","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/cango-completes-442m-bitcoin-liquidation-and-secures-75m-in-new-capital-for-ai-pivot-mining-bitcoin-news\/"},"modified":"2026-04-09T04:53:55","modified_gmt":"2026-04-09T04:53:55","slug":"cango-completes-442m-bitcoin-liquidation-and-secures-75m-in-new-capital-for-ai-pivot-mining-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/cango-completes-442m-bitcoin-liquidation-and-secures-75m-in-new-capital-for-ai-pivot-mining-bitcoin-news\/","title":{"rendered":"Cango Completes $442M Bitcoin Liquidation and Secures $75M in New Capital for AI Pivot \u2013 Mining Bitcoin News"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<p><strong>Key Takeaways:<\/strong><\/p>\n<ul>\n<li>Cango Inc. sold 6,451 <span>BTC<\/span> across February and March 2026, generating roughly $442 million to retire bitcoin-backed loans.<\/li>\n<li>The sales cut Cango\u2019s outstanding BTC-collateralized debt to $30.6 million and reduced its <span>hashrate<\/span> to 37.01 EH\/s by March 31.<\/li>\n<li>Cango secured a $65 million insider equity investment and a $10 million convertible note from DL Holdings to fund its AI compute pivot.<\/li>\n<\/ul>\n<h2> <span>Bitcoin<\/span> Miner Cango Cuts Crypto-Backed Loans With Pair of Large <span>BTC<\/span> Sales<\/h2>\n<p><a href=\"https:\/\/news.bitcoin.com\/cango-secures-75m-in-fresh-capital-to-expand-ecohash-ai-computing-platform\/\">Cango<\/a> Inc. (NYSE: <a href=\"https:\/\/www.tradingview.com\/symbols\/NYSE-CANG\/\" target=\"_blank\" rel=\"noopener noreferrer\">CANG<\/a>) executed the first sale on approximately Feb. 7-8, offloading 4,451 <span>BTC<\/span> on the open market for net proceeds of roughly $305 million, settled directly in <span>USDT<\/span>. The implied average sale price was $68,524 per coin. Cango announced the transaction Feb. 9, citing board approval and a review of market conditions.<\/p>\n<p>All proceeds from that February sale went toward partially repaying a Bitcoin-backed loan. After the transaction closed, Cango held 3,313.4 <span>BTC<\/span> in treasury and had produced 454.83 <span>BTC<\/span> during the month.<\/p>\n<p>In March, Cango sold an additional 2,000 <span>BTC<\/span> to retire the remaining balance on outstanding crypto-secured debt. Secondary reports placed the average sale price in the $68,000 to $69,000 range, implying proceeds near $137 million. The company did not disclose an exact price in its April 8 <a href=\"https:\/\/www.prnewswire.com\/news-releases\/cango-inc-announces-march-2026-operational-update-strategically-optimizing-mining-fleet-and-improving-production-economics-302736887.html\" target=\"_blank\" rel=\"noopener noreferrer\">operational update<\/a>.<\/p>\n<p>By March 31, Cango\u2019s <a href=\"https:\/\/news.bitcoin.com\/op-ed-by-corbin-fraser-ceo-of-bitcoin-com-the-bitcoin-president-is-making-our-case-for-us\/\">bitcoin<\/a> treasury stood at 1,025.69 <span>BTC<\/span>, down from an estimated 7,500-plus <span>BTC<\/span> before the February sale. The outstanding balance on Bitcoin-backed loans fell to $30.6 million.<\/p>\n<p>On the mining side, the company reported total operational <a href=\"https:\/\/news.bitcoin.com\/bitcoin-difficulty-climbs-3-87-as-hashrate-slips-and-next-cut-looms\/\">hashrate<\/a> of 37.01 EH\/s at month-end, comprising 27.98 EH\/s of self-mining and 9.02 EH\/s through <span>hashrate<\/span> leasing. That compares to a peak of roughly 50 EH\/s the company reached in late 2025, a reduction that reflects Cango\u2019s deliberate pullback from scale in favor of margin.<\/p>\n<p>The average cash cost per <span>bitcoin<\/span> mined in March came in at $68,215.83, a 19.3% improvement from $84,552 in the fourth quarter of 2025. The company attributed the gain to decommissioning older equipment, deploying newer <a href=\"https:\/\/news.bitcoin.com\/warren-presses-commerce-department-over-bitmain-security-risks-and-trump-linked-crypto-ties\/\">Bitmain<\/a> S21 and S21XP mining rigs, shifting capacity to lower-cost power regions, and implementing revenue-sharing arrangements at select high-cost sites.<\/p>\n<p>To support the transition without relying solely on <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> sales, Cango closed a roughly $65 million equity investment from company leadership and insiders on March 31, settled in <a href=\"https:\/\/news.bitcoin.com\/stablecoin-market-drops-1-04b-as-usdc-leads-outflows-while-usdt-holds-58-dominance\/\">USDT<\/a>. The company also secured a $10 million convertible note from DL Holdings and received an earlier equity infusion of approximately $10.5 million in February.<\/p>\n<p>Cango entered <a href=\"https:\/\/news.bitcoin.com\/sealminer-a4-series-debuts-as-bitdeer-hits-new-bitcoin-mining-efficiency-record\/\">bitcoin mining<\/a> in November 2024, moving away from its original automotive financing and used-car export business. It scaled operations across more than 40 sites spanning North America, the Middle East, South America, and East Africa before pivoting toward modular, containerized GPU-based AI inference compute. The company is targeting small- and medium-sized enterprises with that infrastructure.<\/p>\n<p>For fiscal year 2025, Cango reported revenue of approximately $688 million and a net loss of roughly $453 million, which was tied to the mining buildout, price <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-volatility\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">volatility<\/a>, and transition expenses.<\/p>\n<p>In early April 2026, NYSE <a href=\"https:\/\/www.prnewswire.com\/news-releases\/cango-inc-receives-notice-regarding-nyse-continued-listing-standard-302731267.html\" target=\"_blank\" rel=\"noopener noreferrer\">notified <\/a>Cango that its stock had traded below $1 on a 30-day average closing price basis, triggering a continued-listing review. The company has a six-month cure period to bring the share price back into compliance.<\/p>\n<p>The two <a href=\"https:\/\/www.binance.com\/en\/price\/bitcoin\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">bitcoin<\/a> sales have materially reduced Cango\u2019s exposure to crypto-collateralized debt while freeing capital for AI deployment across its existing grid-connected sites. The company says it will keep mining but intends to prioritize per-site cash margins over total <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-bitcoin-hashrate\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">hashrate<\/a>.<\/p>\n<\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/cango-completes-442m-bitcoin-liquidation-and-secures-75m-in-new-capital-for-ai-pivot\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways: Cango Inc. sold 6,451 BTC across February and March 2026, generating roughly $442 million to retire bitcoin-backed loans. The sales cut Cango\u2019s outstanding BTC-collateralized debt to $30.6 million and reduced its hashrate to 37.01 EH\/s by March 31. Cango secured a $65 million insider equity investment [&hellip;]<\/p>\n","protected":false},"author":19,"featured_media":70866,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/70865"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=70865"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/70865\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/70866"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=70865"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=70865"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=70865"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}