The post Cango Posts $285M Q4 Loss on Costs, Impairments appeared on BitcoinEthereumNews.com.

Bitcoin mining firm Cango Inc. reported a net loss of $285 million in the fourth quarter of 2025, as impairment charges, fair-value losses and higher mining costs outweighed revenue from its expanding Bitcoin mining business. In its earnings report published Monday, Cango said fourth-quarter revenue reached $179.5 million, including $172.4 million from Bitcoin mining, while total operating costs and expenses rose to $456.0 million. The losses were driven in part by an $81.4 million impairment on mining machines and a $171.4 million loss tied to changes in the fair value of Bitcoin (BTC)-collateralized receivables. The company also reported higher production costs, with all-in mining expenses rising to $106,251 per BTC in the quarter. The results show how revenue growth from mining was offset by impairment charges, mark-to-market adjustments and higher production costs as the company scaled the business. Cango’s six-month price chart. Source: Google Finance Google Finance data shows that Cango’s shares fell from around $4.50 on Oct. 1 to about $1.50 by Dec. 31. At the time of writing, it trades at $0.68, marking a decline of more than 84% over the past six months. Cango posted a net loss of $452.8 million for full-year 2025 For the full year, Cango reported total revenue of $688.1 million, including $675.5 million from Bitcoin mining. The company mined 6,594.6 Bitcoin in 2025, or about 18.07 Bitcoin per day, in its first full year operating at scale in the sector. Cango reported total operating costs and expenses of $1.1 billion for 2025, including $338.3 million in impairment losses on mining machines and $96.5 million in fair-value losses on Bitcoin-collateralized receivables, highlighting the cost pressures associated with scaling its mining operations. Related: Bitcoin miners saw the AI power crunch coming — and the nuclear revival In total, Cango posted a net loss of…

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Filed under: News - @ March 18, 2026 4:27 am