Cango’s transformation is aggressive enough—mining revenue makes up 96%, plus an all-in bet on AI computing power. With the S21 upgrade and a modular pilot program, are they betting on the right track—or just putting new sails on an old ship?

Canggu Announces 2026 Q1 Results: Total revenue of $102 million, mining contribution of $98.4 million, and 1,266 Bitcoins mined; hash rate of 37.01 EH/s, with upgrades to the S21 and outsourced hosting to reduce costs. Net loss of $261.1 million due to non-cash impairments. Debt reduced to $30.6 million, with 1,026 coins held, and the Chairman injected $65 million. Announced the launch of the EcoHash AI computing power platform, piloting modular units, transitioning to an AI computing power network, and co-building a global ecosystem with DL Group.