Cango Sells 2,000 BTC to Retire Loans as Bitcoin Miners Ramp Up Liquidations
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 Move
The agency mentioned that this deleveraging, mixed with current capital infusions, together with a $65 million fairness funding from members of the corporate’s management group and a $10 million convertible bond from DL Holdings, has considerably strengthened its stability sheet.
“Collectively, these measures present a stable monetary basis to navigate market volatility and assist the Company’s deliberate transition into vitality and AI infrastructure,” the press launch read.
On the price facet, the corporate introduced its common money value per coin 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 high internet hosting charges.
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An Industry-Wide Bitcoin Selloff
Cango shouldn’t be the one miner offloading BTC. Riot Platforms sold 3,778 BTC in Q1 2026 for roughly $289.5 million, greater than 2.5 occasions its quarterly manufacturing. The firm ended the quarter holding 15,680 BTC, down 18% from its 2025 shut.
MARA went additional, promoting 15,133 BTC for approximately $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 information middle 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 tip of 2026, up from roughly 30% at current.
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