Bitcoin (BTC) miner Cango introduced that it offered 2,000 BTC in March 2026. The agency used the proceeds to retire excellent Bitcoin-backed loans.
The sale left the miner with a treasury of 1,025.69 BTC and $30.6 million in remaining mortgage obligations.
Cango Sheds 2,000 BTC and Debt in One Transfer
The agency stated that this deleveraging, mixed with latest capital infusions, together with a $65 million fairness funding from members of the corporate’s management staff and a $10 million convertible bond from DL Holdings, has considerably strengthened its steadiness sheet.
“Collectively, these measures present a strong monetary basis to navigate market volatility and assist the Firm’s deliberate transition into power and AI infrastructure,” the press launch learn.
On the price facet, the corporate introduced its common money value per coin right down to $68,215 in March, a 19.3% drop from This autumn 2025’s $84,552 in This autumn 2025. It additionally decommissioned inefficient miners and shifted to hashrate leasing in areas with excessive internet hosting charges.
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An Business-Large Bitcoin Selloff
Cango shouldn’t be the one miner offloading BTC. Riot Platforms offered 3,778 BTC in Q1 2026 for roughly $289.5 million, greater than 2.5 instances its quarterly manufacturing. The corporate ended the quarter holding 15,680 BTC, down 18% from its 2025 shut.
MARA went additional, promoting 15,133 BTC for roughly $1.1 billion in March. The agency directed the proceeds to retire over $1 billion in face worth convertible debt.
On-chain tracker Lookonchain flagged extra transfers by each miners in early April, suggesting the promoting has continued into Q2.
“Bitcoin miner MARA transferred out 250 BTC ($17.37 million) once more,” the agency posted on April 7.
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Miners are promoting into an setting the place AI is more and more competing for knowledge heart rack area. This shift is probably going pushing Bitcoin mining in direction of extra intermittent and cheaper energy sources over the long run.
CoinShares estimates listed miners may derive as a lot as 70% of their income from AI by the top of 2026, up from roughly 30% at current.
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