Cango Inc.
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Range $3 – $3
Price Chart
About the company
Cango Inc. operates bitcoin mining business with mining operation across North America, the Middle East, South America, and East Africa. It also operates an online international used car export business through AutoCango.
- CEO
- Peng Yu
- IPO
- 2018
- Employees
- 96
- HQ
- Dallas, TX, US
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Similar companies
Peers in the same neighborhood.
- Market Cap
- $106.96M
- P/E
- -0.16
- PEG
- 0.00
- P/S
- 0.49
- P/B
- 0.84
- EV/EBITDA
- -3.20
- Div Yield
- 0.00%
- Gross Margin
- -19.80%
- Op Margin
- -27.72%
- Net Margin
- -179.55%
- ROE
- -179.72%
- ROIC
- -32.61%
Latest fiscal year · YoY change
- Revenue
- $4.81B+498.1%
- Gross Profit
- $196.79M-55.8%
- Op Income
- $-17,010,331
- Net Income
- $-3,166,174,696-1156.0%
- EPS
- $-111.90-1654.2%
- OCF Growth
- -147.6%
- FCF Growth
- -26.8%
- 52W High
- $24.60
- 52W Low
- $1.36
- 50D MA
- $2.00
- 200D MA
- $5.61
- Beta
- 1.08
- RSI (14)
- 63
- Avg Volume
- 425.12K
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
Cango reported sharply lower mining revenue and a wider loss after deliberately shrinking hashrate, while saying its AI infrastructure business has now started commercializing after quarter end.· August 31, 2026
- Total revenue was $50.8 million, with $47.4 million from Bitcoin mining; net loss was $81.6 million, pressured by $42.9 million of mining-machine impairment and $8.5 million of disposal losses.
- Mining was intentionally scaled back: self-mining hashrate was 19.84 EH/s, lease hashrate was 7.74 EH/s, and 656 Bitcoins were mined in the quarter.
- Average cash mining cost fell to $73,313 per coin, down about 5% from Q1; all-in cost was $98,405 per Bitcoin.
- The company began a Bitcoin hedging program in Q2 to reduce cash-flow volatility; management said it is a risk-management tool, not speculative.
- After June 30, Cango said its Georgia AI site was completed, GPUs and containers were arriving, and it signed its first customer contract, with AI revenue expected to start in Q3.
- results":"Cango reported Q2 2026 total revenue of $50.8 million, down about 50% from Q1 2026, and Bitcoin mining revenue of $47.4 million from 656 Bitcoins mined. Gross/operating cost figures included cost of revenue excluding depreciation of $50.7 million, depreciation of $16.9 million, G&A of $8.4 million, impairment loss on mining machines of $42.9 million, and loss on disposal of mining machines of $8.5 million. Operating loss was $80.6 million, net loss from continuing operations was $81.6 million, and adjusted EBITDA was a loss of $10.7 million. As of June 30, cash and cash equivalents were $10.1 million, total cash/cash equivalents/cryptocurrencies were approximately $23 million, long-term debt was $31.2 million, and the company held 1,056 Bitcoins. Guidance-wise, management said Q3 operational hashrate should not change significantly, though summer power curtailment could affect results, and AI-related revenue is expected to begin showing up in Q3 but initially at a modest level.","ceo":"Management framed the quarter as a deliberate transition period rather than a volume push, saying mining was rightsized to improve economics and that the company will keep shifting the mix between self-mining and leasing based on profitability. On AI, the CEO said the business moved from technical validation to commercialization after quarter end, with the Georgia buildout completed, customer discussions ongoing, and the first contract signed. Tone-wise, he stressed capital discipline, operating efficiency, and a parallel-run approach for mining and AI.","cfo":"The CFO tied the revenue decline to the proactive reduction in operational hashrate and the phase-out of older S19 machines, noting that this lowered top-line mining revenue but also cut costs and improved cash flow. He cited average cash mining cost of $73,313 per Bitcoin and all-in cost of $98,405, along with lower cost of revenue excluding depreciation at $50.7 million versus $99.6 million in Q1 and depreciation of $16.9 million versus $29.4 million in Q1. He also pointed to $4.1 million of crypto fair-value loss versus $151.8 million in Q1, explained the BTC-denominated hedge as a short-term loan structure sized around one to two months of production, and said cash and cash equivalents rose to $10.1 million from $7.2 million while long-term debt edged up to $31.2 million.","qanda":"Analysts focused on the hedging program, AI monetization, and mining outlook. Management said the hedge is a short-term BTC loan structure booked partly as short-term debt and partly as a current asset, sized based on production, and intended purely to reduce Bitcoin price sensitivity. On AI, management said the Georgia site and container/GPU deployment occurred after June 30, so Q2 results do not reflect them, but revenue should start in Q3 and the initial contribution will be modest. For mining, management said Q3 hashrate should not change significantly, though summer curtailment could be a factor, and that the share of newer S21 machines is a little above one-third of the non-leased operating fleet.","bull":"The call showed a clear attempt to improve mining economics: lower cost of revenue, lower cash mining costs, and a more disciplined mix of self-mining, leasing, and hedging. The AI business also crossed an important milestone after quarter end with site completion, infrastructure installation, and the first customer contract, which management said should begin contributing revenue in Q3.","bear":"The quarter still showed heavy losses, including an $81.6 million net loss and large impairment/disposal charges tied to the restructuring of mining assets. Revenue fell about 50% sequentially as hashrate was deliberately reduced, and management said AI revenue will start only modestly in Q3, so the new business is still early. Management also flagged potential summer power curtailment and said the company remains dependent on externally hosted mining sites for most of its fleet."}]} ,
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 97.4%
- Shares Outstanding
- 39.32M
- Float Shares
- 38.29M
of shares held by institutions
37 13F filers
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Mirae Asset Global Etfs Holdings Ltd. | 2.79M | ▲ 1.93M |
| Goldman Sachs Group Inc | 2.34M | ▲ 270.66K |
| Vident Advisory, LLC | 2.11M | ▲ 175.43K |
| Renaissance Technologies LLC | 1.15M | ▲ 138.81K |
| Ubs Group AG | 1.07M | ▼ 7.24K |
| Cetera Investment Advisers | 549.50K | ▲ 120.80K |
| Hennion & Walsh Asset Management, Inc. | 470.37K | ▲ 92.36K |
| Xtx Topco Ltd | 406.85K | ▲ 349.33K |
| Millennium Management LLC | 226.29K | ▼ 347.13K |
| Bnp Paribas Arbitrage, Snc | 165.26K | ▲ 14.33K |
| Vontobel Holding Ltd. | 131.15K | ▼ 2.03K |
| State Street Corp | 125.22K | ▲ 27.00K |
Held by 10 ETFs
Biggest fund positions in CANG by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Mar 18, 26 | Lee Chi Ming | other | 40,000 |
| Mar 18, 26 | Jin Xin (Moore) | other | 0 |
| Mar 18, 26 | Jin Xin (Moore) | other | 1,600,000 |
| Mar 18, 26 | Chiu Chang-Wei | other | 0 |
| Mar 18, 26 | Chiu Chang-Wei | other | 0 |
| Mar 18, 26 | Chiu Chang-Wei | other | 833,351 |
| Mar 18, 26 | Chiu Chang-Wei | other | 320,000 |
| Mar 18, 26 | Lu Haitian | other | 40,000 |
| Mar 18, 26 | Zhang Yongyi | other | 420,000 |
| May 1, 25 | Zhang Yongyi | other | 31,764 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our CANG coverage
Recent articles, reports, and earnings notes.
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Critical Contrast: Q2 (NYSE:QTWO) versus Cango (NYSE:CANG)
defenseworld.net · Sep 26
Cango Inc.'s AI Subsidiary, EcoHash, Announces Operational Milestones: Completes Dedicated AI Infrastructure Modification at Georgia Facility and Begins Commercial GPU Compute Services Using First Batch of GPU Servers
prnewswire.com · Sep 3
Cango Inc. Regains Compliance with NYSE Minimum Share Price Requirement
prnewswire.com · Sep 3
Cango Q2 Earnings Call Highlights
defenseworld.net · Sep 2
Cango Inc. (CANG) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 31
Cango Inc. Reports Second Quarter 2026 Unaudited Financial Results
prnewswire.com · Aug 31
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