Cango Inc. (NYSE:CANG) reported operational results for April 2026, according to a press release statement issued today.
The Bitcoin mining company’s total operational hashrate stood at 31.58 exahashes per second as of April 30, 2026. This comprised 20.43 EH/s from self-mining operations and 11.15 EH/s from hashrate leasing arrangements.
The company produced 230.04 Bitcoin during April, generated exclusively from its self-mining operations. The average cash cost per coin was $68,061 for the month. The mining operations come as Cango posted a gross profit margin of just 3.85% over the last twelve months, reflecting the capital-intensive nature of the business.
As of April 30, 2026, Cango held 1,057.46 Bitcoin in its treasury. InvestingPro data indicates the company is currently overvalued relative to its Fair Value analysis, with 14 additional ProTips available to subscribers highlighting financial health concerns including significant debt levels.
The company operates 26 sites globally, with 20 facilities dedicated to self-mining and six sites used for hashrate leasing. During April, Cango decommissioned certain legacy S19 series mining units at select international locations as part of its fleet optimization program. The company stated it is deploying S21 series miners to improve energy efficiency.
Cango entered the digital asset space in November 2024 and operates mining facilities across North America, the Middle East, South America, and East Africa. The company also operates an online international used car export business through AutoCango.com.
In other recent news, Cango Inc. reported a net loss of $285 million for Q4 2025, while generating $179.5 million in revenue, primarily from its Bitcoin mining operations. The company is undergoing a strategic pivot towards Bitcoin mining and AI initiatives, which has sparked investor optimism. In addition, Cango announced leadership changes, appointing Simon Ming Yeung Tang as the new chief financial officer and director. Tang previously held the position of chief investment officer, replacing Yongyi Zhang and Chang-Wei Chiu, who resigned for personal reasons.
Cango also disclosed that it received a notice from the New York Stock Exchange for falling below the $1 share price requirement, which could affect its listing status. The company reported a total operational hashrate of 37.01 exahash per second as of March 31, with 27.98 EH/s from self-mining and 9.02 EH/s from hashrate leasing. Furthermore, Cango successfully reduced its Bitcoin mining costs by 19% in March. These developments highlight the company’s focus on optimizing its operations and addressing compliance challenges.
Original Article: Cango reports April Bitcoin mining output of 230 BTC By Investing.com
