Cango increases Bitcoin holdings by 7.65 BTC to 1,065 BTC after selling thousands earlier this year

The article highlights two Bitcoin-related developments. Cango Inc. modestly increased its Bitcoin treasury by 7.65 BTC in May 2026 to 1,065.11 BTC, after having sold 4,451 BTC in February and 2,000 BTC in March to repay debt and reduce Bitcoin-backed loans. The company’s focus is shifting from treasury size toward mining efficiency and its broader AI computing pivot, with April hashrate at 31.58 EH/s, about 230 BTC mined, and a 19.3% reduction in average cash costs per mined Bitcoin. Separately, BlackRock filed a final amendment for its iShares Bitcoin Premium Income ETF (BITA), aiming to launch before Goldman Sachs’ competing product. BITA’s lower 0.65% fee and covered-call structure could intensify competition in Bitcoin income ETFs and affect investor positioning around Bitcoin exposure.