Cango sells 60% of bitcoin reserve to reduce debts

17:33 - 10.02.2026


February 10, Fineko/abc.az. Mining company Cango sold 4,451 bitcoins for $305 million to partially repay the loan, realizing nearly 60% of its reserves at the price of $68,000 per coin.

ABC.AZ informs that after the deal, company's reserves decreased to 3,600 bitcoins, which dropped it to 26th place among the largest holders of cryptocurrencies. The proceeds made it possible to reduce the debt burden. It is also reported that since the beginning of 2026, the outflow of finances from bitcoin funds has exceeded $1.6 trillion.