Cango Inc. (NYSE: CANG), a global Bitcoin mining company, has released its operational update for January 2026, revealing both challenges and strategic shifts. The company mined nearly 500 Bitcoin (BTC) during the month despite facing significant operational headwinds.
CEO Paul Yu explained that "extreme cold and blizzards across key North American regions" led to temporary operational downtime and a reduced average hash rate for the company's mining fleet. However, these challenges were partially offset by favorable Bitcoin network difficulty adjustments, allowing Cango to maintain substantial production.
In a notable strategic announcement, Yu stated that starting in February 2026, Cango will selectively sell a portion of its newly mined Bitcoin. The proceeds are earmarked to support the expansion of the company's AI inference platform and other near-term growth initiatives. This move is described as providing "tactical flexibility" to seize new business opportunities and manage liquidity with greater agility.
Cango operates over 40 mining sites across North America, the Middle East, South America, and East Africa. Since entering the digital asset space in November 2024, the company has been developing an integrated energy and AI compute platform while continuing its legacy online used car export business via AutoCango.com.