Bitcoin mining firm Cango announced it has cut its Bitcoin production cost to $68,215 per coin, a 19.3% decrease from the prior quarter. This reduction stems from a new "lean-production model" prioritizing resilient margins.
The company sold 2,000 Bitcoin in March for approximately $137 million, using the proceeds to reduce outstanding Bitcoin-backed loans. Cango now holds 1,025.69 BTC in its treasury.
This strategic shift toward deleveraging and margin discipline occurs as Cango aims to transition into energy and artificial intelligence infrastructure. The company remains the world's sixth-largest Bitcoin miner by hashrate.