Cango Sells Bitcoin to Reduce Debt and Reshape Business Strategy
- Debt Reduction Strategy: Cango sold 2,000 BTC in March, using the proceeds to retire $30.6 million in Bitcoin-backed loans, demonstrating its ongoing efforts to reduce debt while holding 1,025.69 BTC in reserves.
- Large-Scale Sale: In February, Cango sold 4,451 BTC for approximately $305 million in net proceeds, fully applying the amount to partially repay Bitcoin collateralized loans, indicating a proactive adjustment of its financial structure in response to market pressures.
- Investment in AI Compute Infrastructure: Cango is leveraging its mining infrastructure to build distributed compute capacity, planning to deploy modular GPU compute nodes across existing sites to support the AI industry, reflecting its strategic shift in business direction.
- Operational Efficiency Improvement: As of March 31, Cango reported an operational hashrate of 37.01 EH/s, with the average cash cost per Bitcoin mined in March falling 19.3% to $68,215.83 compared to Q4 2025, indicating progress in reducing production costs and optimizing its business.
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Technical Analysis for AI
Technical Sentiment Analysis for Sleepless AI (AI). As of , Sleepless AI (AI) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 4 indicators are flashing buy, while 2 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for AI stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, AI is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Sleepless AI (AI) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00905 | 0.014 | 0.0174 | 0.0223 | 0.0257 | 0.0306 | 0.034 |
| Fibonacci | 0.014 | 0.0171 | 0.0191 | 0.0223 | 0.0254 | 0.0274 | 0.0306 |
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