Bitcoin News Today: Cango Leverages Energy-Optimized Infrastructure to Bridge Bitcoin Mining and AI Computing Future

Chinese automotive transaction platform Cango Inc. (NYSE: CANG) has outlined a strategic pivot to strengthen its Bitcoin mining operations and enter the artificial intelligence (AI) high-performance computing (HPC) market, leveraging its global infrastructure and energy expertise. The company, which transitioned from its legacy auto business to Bitcoin mining in November 2024, has scaled to a 50 exahash per second (EH/s) global mining capacity within eight months, with plans to optimize energy efficiency and expand into dual-purpose energy infrastructure for future HPC deployments, according to a Yahoo Finance report.

Cango's Q2 2025 financial results underscored the success of its transformation, with $139.8 million in revenue and $99.1 million in adjusted EBITDA, driven by an asset-light model that prioritized operational efficiency, according to a Bitget report. The firm has grown its Bitcoin holdings to over 6,400 BTC ($656 million) through a disciplined HODL strategy, while maintaining $117.8 million in cash and equivalents, per a Yahoo Finance article. To further bolster its mining operations, Cango acquired a 50 MW facility in Georgia for $19.5 million in August 2025, enhancing its control over power costs and operational uptime, according to a shareholder letter.

Building on its Bitcoin mining foundation, Cango aims to enter the AI HPC market, which powers tasks like training large language models (LLMs) and data analysis. CEO Paul Yu emphasized in a shareholder letter that the company's energy-secured infrastructure positions it to transition from Bitcoin mining to HPC, with dual-purpose facilities designed to serve immediate mining needs while supporting future AI workloads, according to a Yahoo Finance article. The firm plans phased pilots and collaborations to integrate HPC capabilities, aligning with broader industry trends as companies like IREN and Galaxy Digital pivot toward AI infrastructure, per a Yahoo Finance story.

Cango's board approved a direct listing on the New York Stock Exchange (NYSE), replacing its American Depositary Receipt (ADR) program, effective November 17, 2025. The move aims to enhance transparency and attract institutional investors, following scrutiny from U.S. regulators on its ties to Bitmain, as outlined in the shareholder letter. Share prices closed at $3.55 on October 31, 2025, reflecting a 27% annual increase but a 50% decline from summer highs, amid broader market volatility, according to a Benzinga report.

Rising Bitcoin mining costs—reaching $114,842 per BTC in October 2025—have intensified competition, pushing smaller operators to merge or exit the market, per a BeInCrypto analysis. Cango's dual-track strategy, combining Bitcoin mining with AI/HPC, mirrors industry shifts toward hybrid models that leverage existing data centers and energy infrastructure. U.S. policymakers have also restricted advanced AI chip exports to China, creating opportunities for domestic miners like Cango to secure partnerships with hyperscalers, according to a Blockspace report.

Cango's 2026 roadmap includes refreshing 6 EH/s of mining equipment, expanding energy infrastructure, and launching HPC pilots. With operations spanning the U.S., Oman, Ethiopia, and Paraguay, the company aims to capitalize on its global footprint and energy expertise to become a leader in the next era of computing.