Cango Inc. reported that it mined 496.35 BTC in January 2026, a 12.8% drop from the 560 BTC mined in December 2025. The average daily production fell to 16.01 BTC, reflecting a 12.8% month‑over‑month decline that mirrors the 12.8% drop in average operating hashrate, which slipped to 37.02 EH/s from 43.36 EH/s in December.
The company attributed the hashrate reduction to extreme cold and blizzards that caused temporary shutdowns at its North American facilities. CEO Paul Yu noted that the network’s difficulty adjustment was favorable, helping to offset the production loss. Despite the lower hashrate, the company’s deployed capacity remained unchanged at 50 EH/s, indicating that the decline was driven by weather‑related downtime rather than a change in installed infrastructure.
Cango’s management announced that it will begin selectively selling Bitcoin—550.03 BTC in January—to fund the expansion of its AI inference platform and other near‑term growth initiatives. The decision follows a period of negative earnings and declining revenue growth over the past three years, underscoring the company’s need to diversify beyond mining and secure liquidity for its AI strategy.
The company’s broader financial picture remains challenging. While mining operations continue to generate revenue, the firm has faced contracting gross margins and negative earnings, prompting a strategic pivot toward an integrated energy and AI compute platform. The selective Bitcoin sales are intended to provide the capital necessary to accelerate that transition while mitigating the financial headwinds associated with mining volatility.
Investors have responded with mixed sentiment. The production update, while operationally positive, has highlighted the company’s exposure to weather‑related risks and its ongoing financial pressures, leading to a cautious outlook among market participants.
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