Bybit
Cango Sells 4,451 BTC, Cuts Bitcoin Holdings by 60%
Bitcoin mining company Cango has significantly reduced its digital asset reserves after selling 4,451 BTC. The transaction lowered the company’s bitcoin holdings by approximately 60% and was aimed at reducing leverage.
In a statement released Monday, Cango said the bitcoin was sold on the open market. Settlement was completed in USDT. The average sale price was around $68,000 per BTC, generating net proceeds of roughly $305 million.
The company said the funds were used to partially repay a bitcoin-collateralized loan. Management noted that the decision followed a review of market conditions and received board approval.
Balance sheet optimization amid market volatility
The latest sale builds on earlier reductions in Cango’s bitcoin reserves. At the end of January, the company reported holdings of 7,474 BTC, down from more than 7,500 BTC at the end of 2025.
The additional divestment was executed as bitcoin rebounded from a recent local low near $60,000. By selling during the recovery, Cango improved liquidity while limiting downside risk.
According to the company, lowering debt levels improves financial resilience. This step is particularly relevant as mining margins remain under pressure and operational costs stay elevated across the sector.
AI expansion alongside core mining operations
Alongside the bitcoin sale, Cango announced the appointment of Jack Jin as chief technology officer of its new AI business unit. Jin previously worked at Zoom Communications, focusing on large-scale GPU infrastructure.
Cango said it sees artificial intelligence infrastructure as a complementary growth area. AI services may provide steadier revenue compared to the cyclical nature of bitcoin mining.
Despite the shift, the company emphasized its ongoing commitment to mining. Cango plans to continue optimizing mining economics while adjusting capital allocation to reflect changing market conditions.
Management described the bitcoin sale as a strategic balance sheet move rather than a retreat from digital asset exposure. The company aims to combine disciplined treasury management with long-term diversification.
