On the one-year anniversary of its ambitious transformation into a leading Bitcoin mining operation, Cango Inc. (NYSE: CANG) released a shareholder letter detailing remarkable progress and future plans. CEO Paul Yu reflected on the past year, highlighting how the company’s initial focus on securing energy access paved the way for a rapid expansion to 50 EH/s of global mining capacity in just eight months. 50 EH/s of power was acquired in November 2024, followed by another 18 EH/s in June 2025. This strategic shift allowed Cango to divest its China-based assets and focus on its growing mining operations. A new Board and management team with expertise in digital assets, finance, and energy were brought on board to guide this ambitious transition.