Cango sells 2,000 BTC, cuts Bitcoin production cost by 19% in March

Bitcoin mining institution Cango said connected Wednesday it slashed its Bitcoin accumulation outgo to $68,215 per coin, a 19.3% outgo simplification compared to the mean currency outgo of $84,552 per coin reported successful the 4th fourth of 2025. 

The institution attributed the simplification to its displacement toward a “lean-production model” that prioritizes borderline resilience implicit earthy scale, according to its monthly operational report. Cango said the accumulation outgo simplification volition assistance the institution upwind the volatility of Bitcoin prices.

The institution sold 2,000 Bitcoin (BTC) successful March astatine an mean terms betwixt $68,000 and $69,000, a spokesperson for Cango told Cointelegraph, netting the institution astir $137 million. Cango said the proceeds were utilized to trim outstanding Bitcoin-backed loans. As of March 31, Cango had $30.6 cardinal successful Bitcoin-backed loans outstanding and held 1,025.69 BTC successful its treasury.

The update shows however immoderate listed Bitcoin miners are prioritizing deleveraging and cash-margin subject implicit earthy standard arsenic financing conditions stay tight. Cango besides reported a $65 cardinal equity concern from members of the company’s enactment squad and a $10 cardinal convertible enslaved from DL Holdings. The Bitcoin miner said it volition proceed de-leveraging to enactment its planned modulation into vigor and artificial quality (AI) infrastructure.

Top Bitcoin mining companies by hashrate. Source: BitcoinMiningStock

Cango is the world’s sixth-largest Bitcoin mining institution by hashrate, with 27.9 exahashes per 2nd (EH/s), accounting for 2.82% of the planetary Bitcoin mining hash power, according to information from BitcoinMiningStock.

The institution reported a full operational hashrate of 37.01 EH/s, including 27.9 EH/s successful self-mining and 9.02 EH/s successful hashrate leasing. 

Cango banal price, year-to-date chart. Source: Google Finance

Cango’s banal terms roseate 3.44% successful pre-market trading connected Wednesday, but has fallen by astir 72% year-to-date, according to Google Finance data.

Related: Bitcoin ETFs log biggest outflows successful 3 weeks arsenic Iran warfare fears rise

Bitcoin miners merchantability arsenic Strategy continues to buy

Cango’s merchantability besides comes arsenic different listed Bitcoin-linked companies person utilized treasury income to fortify equilibrium sheets.

MARA Holdings, the second-largest BTC miner, disclosed that it sold astir $1.1 cardinal worthy of Bitcoin successful March to repurchase convertible indebtedness astatine a discount.

Still, the largest nationalist holder of Bitcoin continues to accumulate. Michael Saylor’s Strategy disclosed a $330 cardinal Bitcoin acquisition connected Monday, bought astatine an mean terms of $67,718 per coin, contempt insubstantial losses connected its holdings surpassing $14.5 cardinal during the archetypal 4th of the year.

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