Cango is selling off its bitcoin stash to pay down debt and fund an AI makeover
CoinDesk
Bitcoin miner Cango sold 4,451 BTC to reduce debt and finance its strategic pivot toward becoming an AI infrastructure provider.Summary
Cango, a company that transitioned from automotive services to bitcoin mining, reported a net loss of $452.8 million for 2025 despite generating $688.1 million in revenue, largely from BTC mining. The company sold 4,451 BTC in February 2026 to pay down debt and fund a strategic pivot into AI infrastructure. Profitability suffered due to high production costs and impairment charges. CEO Paul Yu stated the firm is advancing its pivot to an AI infrastructure provider with its EcoHash platform. This move aligns with a broader industry trend where public miners are selling Bitcoin holdings to fund AI developments amid declining mining margins and rising demand for high-performance computing.
(Source：CoinDesk)