Cango Q2 FY26 net loss narrows to US$81.6 million; revenue falls about 50% to US$50.8 million vs Q1 FY26
Reuters2026/08/31 20:06- Cango posted Q2 2026 revenue of US$50.8 million, down about 50% from Q1, including US$47.4 million from Bitcoin mining.
- Net loss narrowed to US$81.6 million from US$261.1 million in Q1, driven mainly by non-cash machine impairment and disposal losses.
- Operating loss improved to US$80.6 million from US$254.4 million, while total operating costs and expenses fell to US$131.4 million.
- Operating hashrate totaled 27.58 EH/s at June 30, with 656 Bitcoins mined; average cash cost per Bitcoin fell about 5% sequentially to US$73,313.
- Held 1,056 Bitcoins and US$10.1 million cash; Georgia AI modular build supports up to 3 MW, with customer onboarding underway and Q3 revenue expected.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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