Cango

Cango Inc.

Treasury Qualification

Treasury classificationBitcoin Miner with Strategic Holdings

Qualification tierCore Directory

Directory statusIncluded

Ownership statusCompany-owned Bitcoin generated primarily through Cango's self-mining operations. The company reported total Bitcoin holdings of 1,065.11 BTC as of May 31, 2026. Earlier Bitcoin-backed borrowings were substantially reduced through sales completed during the first quarter of 2026. No current pledged, borrowed, loaned, customer-owned, or otherwise restricted portion of the May 31 balance was separately identified.

Strategic intent

Cango retains Bitcoin produced through its mining operations and reports the balance as treasury holdings. Its policy is actively managed rather than accumulation-only: the company may retain mined Bitcoin, sell holdings to reduce leverage, or deploy capital toward mining, energy, and AI infrastructure.

Bitcoin Treasury

BTC counted in directory1,065 BTC

Estimated value$67,799,577BTC price retrieved: July 28, 2026 at 19:51 UTC

Holdings as ofMay 31, 2026

Average purchase priceNot disclosed

Ownership and Restrictions

Component figures are shown only when separately disclosed. “Not separately disclosed” does not imply zero.

Total BTC reported1,065

Unencumbered / unrestrictedNot separately disclosed

Pledged as collateralNot separately disclosed

Loaned to third parties0

Subsidiary-ownedNot separately disclosed

Other restricted / receivableNot separately disclosed

Latest Financial Results

Reporting period: Three months ended March 31, 2026

Revenue$102,000,000

Operating income/loss$-254,400,000

Net income/loss$-261,100,000

Cash$7,200,000

Management

Chief executive officer: Paul Yu
Chief financial officer: Simon Tang
Executive chair: None

Research Notes

Cango reported 1,065.11 BTC in total Bitcoin holdings as of May 31, 2026, after producing 237.59 BTC during May, including 236.5 BTC from self-mining. The company held 1,026 BTC at March 31, 2026. Cango previously held 7,528.3 BTC at December 31, 2025, but sold an aggregate 6,451 BTC by March 31, 2026 to generate liquidity, retire Bitcoin-backed debt, and support its expansion into AI compute infrastructure. This makes Cango an actively managed mining treasury rather than an accumulation-only holder. The May 31 balance remains company-attributable and is explicitly presented by management as treasury holdings. No current amount was identified as pledged, borrowed, loaned, customer-owned, or restricted, but because the latest update does not provide an encumbrance reconciliation, the record does not assume that all 1,065.11 BTC are unencumbered. For the first quarter of 2026, Cango reported revenue of $102.0 million, operating loss of $254.4 million, net loss of $261.1 million, cash and cash equivalents of $7.2 million, and long-term debt of $30.6 million.