Cango Inc. Announces April 2026 Operational and Fleet Optimization Update; Continuing Strategic Fleet Modernization and Enhancing Production Efficiency

Cango (NYSE: CANG) provided its April 2026 operational update emphasizing efficiency and fleet modernization.

Rhea-AI Summary

Cango (NYSE: CANG) provided its April 2026 operational update emphasizing efficiency and fleet modernization. As of April 30, total operational hashrate was 31.58 EH/s (20.43 EH/s self-mining; 11.15 EH/s leasing). April production was 230.04 BTC, average cash cost per coin $68,061, and treasury held 1,057.46 BTC. The company reported decommissioning legacy S19 units, procuring S21 miners, and operating across 26 active sites (20 self-mining, 6 leasing) to prioritize margin and energy efficiency over scale.

Positive

• Total operational hashrate of 31.58 EH/s as of April 30, 2026
• April production of 230.04 BTC generated from self-mining operations
• Treasury holdings of 1,057.46 BTC as of April 30, 2026
• Fleet modernization program: decommissioning S19 units and procuring S21 miners
• Global footprint of 26 active sites (20 self-mining, 6 leasing) for diversified power sourcing

Negative

• Average cash cost per coin of $68,061 in April 2026
• 11.15 EH/s of operational hashrate comes from hashrate leasing rather than owned miners

Argus May 8 session

+25.62% close to close Open Argus

Details

News Market Reaction – CANG

On May 8, the day this news came out, CANG closed 25.62% above the previous close.

Data tracked by StockTitan Argus for the May 8 session.

Key Figures

Total operational hashrate: 31.58 EH/s Self-mining hashrate: 20.43 EH/s Hashrate leasing: 11.15 EH/s +5 more

Total operational hashrate

31.58 EH/s

As of April 30, 2026; self-mining plus hashrate leasing

Self-mining hashrate

20.43 EH/s

As of April 30, 2026; core fleet

Hashrate leasing

11.15 EH/s

As of April 30, 2026; leased capacity

Active sites

26 sites

Global footprint; 20 self-mining, 6 leasing

Bitcoin production

230.04 BTC

Produced in April 2026 from self-mining

Cash cost per coin

$68,061

Average April 2026 cash cost per BTC

Bitcoin holdings

1,057.46 BTC

Treasury position as of April 30, 2026

Self-mining sites

20 sites

Facilities dedicated to self-mining operations

Historical Context

5 past events · Latest: Apr 22

5 events

1. Apr 22

   Management changes

   24h Move

   -3.0%

   CFO and director changes with internal promotion to strengthen leadership.

2. Apr 13

   AI operations launch

   24h Move

   +6.0%

   EcoHash AI inference unit began commercial operations and portal launch.

3. Apr 10

   Annual report filing

   24h Move

   +6.0%

   Form 20-F filed with audited results and business transition disclosure.

4. Apr 08

   Operational update

   24h Move

   +3.3%

   March 2026 update showing lean model, lower cash cost per coin and debt reduction.

5. Apr 01

   Strategic financing

   24h Move

   +4.6%

   US$65M strategic equity plus US$10M convertible note to fund AI and energy plans.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

hashrate, self-mining, btc

3 terms

hashrate technical

"As of April 30, 2026, Cango's total operational hashrate was 31.58 EH/s"

Hashrate is a measure of how quickly a computer network can process and verify transactions, often expressed as the number of calculations it can perform in a second. Think of it like the engine power of a car; the higher the hashrate, the more work the network can do in a given time. For investors, a higher hashrate generally indicates a more secure and robust network, which can influence confidence and the value of related digital assets.

self-mining technical

"comprising its core self-mining fleet and strategic hashrate leasing arrangements"

Self-mining is when a person or company uses its own equipment and resources to create new cryptocurrency coins rather than buying them or hiring someone else to mine. For investors, it matters because self-mining turns computing power into an ongoing source of revenue and digital assets, like owning a small factory instead of just selling its products; it affects costs, cash flow, asset holdings and exposure to energy and regulatory risks.

btc financial

"In April 2026, Cango produced 230.04 BTC, which was generated exclusively"

BTC is the common ticker and shorthand for Bitcoin, a digital currency that exists on a decentralized computer network instead of being issued by a government or bank. Investors care about BTC because its market price signals demand for that asset, can swing sharply like a volatile commodity, and can influence portfolio risk, market sentiment, and companies with exposure to cryptocurrencies—similar to how oil prices affect energy markets.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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DALLAS, May 8, 2026 /PRNewswire/ -- Cango Inc. (NYSE: CANG) ("Cango" or the "Company"), a leading Bitcoin miner leveraging its global operations to develop an integrated energy and AI compute platform, today announced its operational update for April 2026.

The Company continues to prioritize margin and cost-efficiency over scale. This strategic focus includes the ongoing refinement of its mining fleet, selective hardware upgrades, and the decommissioning of legacy equipment in higher-cost regions to ensure sustainable growth.

Operational Strategy: Targeted Efficiency and Asset Optimization

As of April 30, 2026, Cango's total operational hashrate was 31.58 EH/s, comprising its core self-mining fleet and strategic hashrate leasing arrangements.

Operational Hashrate Composition (as of April 30, 2026):

Category	Hashrate (EH/s)
Self-Mining	20.43
Hashrate Leasing	11.15
Total Operational Hashrate	31.58

Key Initiatives for April included:

• Strategic Fleet Renewal: The Company continued to execute its fleet optimization program by decommissioning certain legacy S19 series units at its facilities in select international locations. This move is part of a broader effort to phase out less efficient hardware in favor of next-generation technology, i.e. the procurement and deployment of S21 series miners to improve energy efficiency (J/TH).
• Global Footprint Stability: The Company currently operates across 26 active sites globally, maintaining a diversified portfolio of 20 facilities dedicated to self-mining operations and 6 sites utilized for hashrate leasing. This geographic diversity allows Cango to optimize power costs.

Production and Cost Management: Enhancing Margin Resilience

Cango's efforts have resulted in continued optimization of production economics.

• Bitcoin Production: In April 2026, Cango produced 230.04 BTC, which was generated exclusively from the Company's self-mining operations.
• Production Costs: The Company achieved an average cash cost per coin of $68,061 for the month. This demonstrates continued cost discipline following the transition to a leaner production model initiated in the first quarter of 2026.
• Treasury Position: As of April 30, 2026, the Company's total Bitcoin holdings stood at 1,057.46 BTC.

Strategic Outlook: Efficiency Over Scale

Moving forward, Cango remains steadfast in its strategy to prioritize mining economics over scale. The Company's core objective is the continuous improvement of its fleet's energy efficiency and the protection of operational margins. This disciplined approach ensures that the Company is well-positioned to continue its transition to tap into opportunities in energy and AI infrastructure.

About Cango Inc.

Cango Inc. (NYSE: CANG) is a Bitcoin mining company with a vision to establish an integrated, global infrastructure platform capable of powering the future digital economy. The Company's mining operations span across North America, the Middle East, South America, and East Africa.

Since entering the digital asset space in November 2024, Cango has activated pilot projects in both integrated energy solutions and distributed AI computing. In parallel, Cango continues to operate an online international used car export business through AutoCango.com.

For more information, please visit: www.cangoonline.com and follow us on: X and LinkedIn.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words or phrases such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Statements that are not historical facts, including statements about Cango's beliefs and expectations, are forward-looking statements. These statements are based on Cango's current expectations and assumptions and are not guarantees of future performance. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: Cango's goal and strategies; Cango's expansion plans; Cango's future business development, financial condition and results of operations; Cango's expectations regarding demand for, and market acceptance of, its solutions and services; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Cango's filings with the SEC. All information provided in this press release is as of the date of this press release, and Cango does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Investor Relations Contact

Juliet Ye, Head of Communications
Cango Inc.
Email: ir@cangoonline.com

Christensen Advisory
Tel: +852 2117 0861
Email: cango@christensencomms.com

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SOURCE Cango Inc.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What was Cango (CANG) total operational hashrate reported for April 2026?

Cango reported 31.58 EH/s total operational hashrate as of April 30, 2026. According to the company, this comprises 20.43 EH/s from self-mining and 11.15 EH/s from hashrate leasing.

How much Bitcoin did Cango (CANG) produce in April 2026 and from which operations?

Cango produced 230.04 BTC in April 2026 generated exclusively from its self-mining operations. According to the company, this production reflects its focus on margin-driven, leaner production.

What cash cost per coin did Cango (CANG) report for April 2026?

Cango reported an average cash cost per coin of $68,061 for April 2026. According to the company, this figure follows its transition to a cost-disciplined, efficiency-focused production model initiated earlier in 2026.

How many Bitcoin does Cango (CANG) hold in its treasury as of April 30, 2026?

Cango held 1,057.46 BTC in its treasury as of April 30, 2026. According to the company, these holdings reflect accumulated inventory from its self-mining operations to date.

What fleet changes did Cango (CANG) announce in April 2026 and why?

Cango announced decommissioning legacy S19 units and procuring S21 miners to improve energy efficiency (J/TH). According to the company, the changes prioritize margin resilience by replacing less efficient hardware across select international sites.