Bitcoin mining company Kango announced on Wednesday that it has reduced the cost of producing Bitcoin to $68,215 per coin. This is a 19.3% cost reduction compared to the average cash cost of $84,552 per coin reported in Q4 2025.
According to the company’s monthly operating report, the company attributed this reduction to a shift to a “lean manufacturing model” that prioritizes profit resilience over original scale. Kango said lower production costs will help the company weather fluctuations in Bitcoin prices.
The company sold 2,000 Bitcoins ($BTC) Trading at an average price of $68,000 to $69,000 in March, the company earned approximately $137 million in profit, a Kango spokesperson told Cointelegraph. Kango said the proceeds were used to reduce the balance of Bitcoin-backed loans. As of March 31, Cango had $30.6 million in outstanding Bitcoin-backed loans and $1,025.69 in holdings. $BTC Inside that treasure trove.
This latest information shows how some publicly traded Bitcoin miners are prioritizing deleveraging and cash margin discipline over actual scale as funding conditions remain tight. Cango also reported a $65 million equity investment from members of its management team and $10 million in convertible debt from DL Holdings. The Bitcoin miner said it will continue to deleverage to support its transition plans to energy and artificial intelligence (AI) infrastructure.
According to data from BitcoinMiningStock, Cango is the world’s 6th largest Bitcoin mining company in terms of hashrate, with 27.9 exahashes per second (EH/s), accounting for 2.82% of the world’s Bitcoin mining hash power.
The company reported a total operational hash rate of 37.01 EH/s, including 27.9 EH/s in self-mining and 9.02 EH/s in hashrate leases.
Cango stock rose 3.44% in premarket trading Wednesday, but is down about 72% year-to-date, according to Google Finance data.
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Bitcoin miners sell while strategies continue to buy
Cango’s sale also comes as other publicly traded Bitcoin companies are using Treasury sales to shore up their balance sheets.
2nd place MARA Holdings $BTC The miner revealed it sold about $1.1 billion worth of Bitcoin in March to buy back convertible bonds at a discount.
Still, Bitcoin’s largest public holder continues to accumulate. Michael Saylor’s strategy on Monday revealed a $330 million Bitcoin acquisition, purchased at an average price of $67,718 per coin, despite paper losses on its holdings exceeding $14.5 billion in the first quarter of this year.
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