Bitcoin mining compan Cango has been strategically divesting parts of its Bitcoin assets to manage its debt and support a transition towards artificial intelligence (AI) infrastructure.
That comes even as the firm has reduced its Bitcoin manufacturing expenses, down to $68,215 per coin from $84,552 per coin in the fourth quarter of 2025, representing a significant 19.3% decline.
The company, which started out specializing in Chinese car deals, changed gears and became a major participant in the Bitcoin mining industry by the end of 2024.
In recent times, the emphasis has moved from long-term expansion to strategic sales. After selling off 2,000 BTC in March to reduce its Bitcoin-backed obligations, Cango has around 1,025.69 BTC in its treasury as of last month. A substantial open market transaction involving 4,451 BTC was conducted by the business in February, resulting in about $305 million in USDT.
The monies were set aside to pay off secured debts and strengthen the financial position in anticipation of growth into AI computing infrastructure.
Due to the present difficult financing conditions, several publicly listed Bitcoin miners are concentrating on paying down debt and keeping a close eye on their cash margins instead of just growing their operations, as highlighted in the recent reports.
In addition to DL Holdings' $10 million convertible bond, Cango's executive team has pledged $65 million in equity. The Bitcoin miner has stated its intention to continue de-leveraging as it moves its strategy towards energy and AI infrastructure.
Still, Cango, which oversees activities at more than 40 sites throughout the globe, is a frontrunner in the public Bitcoin mining business despite these sales. In addition to maintaining its mining operations, the firm plans to use its infrastructure to provide distributed computing services to the AI industry.
Decreased Bitcoin mining expenditures were reported in the company's monthly operational report as a result of a more simplified production method, with an emphasis on margin stability rather than expansion alone.
Cango claims that it could better weather the ups and downs of Bitcoin prices if it could reduce production expenses.
According to data by BitcoinMiningStock, Cango is the sixth largest Bitcoin mining firm in the world in terms of hashrate. The company achieved 27.9 EH/s, which is equivalent to 2.82% of the total hash power used for Bitcoin mining. The company revealed an operating hashrate of 37.01 EH/s, with 27.9 EH/s coming from self-mining and 9.02 EH/s via hashrate leasing agreements.
According to Google Finance, Cango's stock price has fallen by over 72% so far this year, but it rose by over 3% in Wednesday's trade.
AI Move & Strategy's Bitcoin Buying Behind Miners' Strategy
Similar to other publicly traded firms associated with Bitcoin, Cango has decided to sell off some of its holdings in order to strengthen its financial situation.
To repurchase convertible debt at a favorable price, MARA Holdings – the second-largest Bitcoin miner – announced in March that it had sold almost $1.1 billion worth of Bitcoin.
Nevertheless, the foremost publicly listed company in the Bitcoin sector persists in augmenting its assets. Notwithstanding a loss of $14.5 billion in the first quarter, Michael Saylor's Strategy (Nasdaq: MSTR) involved a substantial acquisition of Bitcoin on Monday, amounting to $330 million at a price of $67,718 per coin.
This year, there is a clear divergence in the strategies taken by publicly traded miners with regard to their BTC reserves and Saylor's Strategy, which is increasing its acquisition activities.
To facilitate a massive transition to AI infrastructure and guarantee liquidity, Bitcoin miners are abandoning the "HODL" strategy and aggressively selling their holdings.
Large public miners sold about 15,000 BTC in just the previous quarter, indicating significant sell-offs.
Since the most recent halving in April 2024, which cut block rewards to 3.125 BTC, miners have been steadily moving their capital away from Bitcoin and towards HPC and GPU-based AI workloads, which often provide greater profits.
Despite a general trend of decreased buying by corporate treasuries, Strategy has ramped up its operations and now accounts for the vast majority of corporate BTC inflows. Between April 1, 2026, and April 5, 2026, Strategy spent almost $330 million, or $67,718 per Bitcoin, to acquire 4,871 BTC.
Strategy has 766,970 BTC as of April 6, 2026, valued at more than $52 billion—about 3.65% of the entire supply—and is part of the firm's strategy. To fund these purchases, the company is implementing risky equity tactics, such as selling common shares of MSTR and issuing "Stretch" preferred stock (STRC).
