Nasdaq-listed Bitcoin mining company Cango (CANG) announced a preliminary net loss of $261.1 million for the first quarter of 2026. The mining volume was 1266 BTC. The company explained that the decline in Bitcoin prices led to non-cash impairment losses related to mining equipment and changes in the value of held BTC. Total revenue for the same period was $102 million, with Bitcoin mining operations accounting for $98.4 million (96%).
