Cango Inc. Transitions from Bitcoin Mining to AI Compute Infrastructure

Cango Inc., listed on the NYSE under the symbol CANG, has announced a strategic shift from being a global Bitcoin miner to establishing an AI compute infrastructure platform. This transition is detailed in a letter to shareholders, underscoring a pivot carefully managed through a phased approach.

Over the past year, Cango strategically entered the Bitcoin mining industry, achieving key milestones such as improved hashrate efficiency, strategic treasury adjustments, and the acquisition of significant energy resources. These efforts laid the groundwork for the company's transition to a globally distributed AI compute grid.

Cango's roadmap includes near-term standardization of GPU nodes, medium-term development of a software orchestration platform, and long-term scaling into a mature AI infrastructure entity. The company has also launched EcoHash Technology LLC to spearhead AI compute initiatives, emphasizing an adaptable infrastructure for future expansion.