Cango finalises its leadership overhaul and transformation into a global Bitcoin miner, with new executives appointed for further growth.
Bitcoin mining firm Cango Inc. finalised its strategic pivot into a global Bitcoin mining company with the completion of a leadership transition and board reorganisation.
The announcement follows the company’s secondary acquisition and comes as it moves to scale its digital asset infrastructure and energy-focused operations.
The newly appointed board of directors and executive team bring deep expertise across Bitcoin mining, energy investment, and global finance. The reshuffle includes the appointment of Mr. Xin Jin as Chairman, Mr. Peng Yu as Chief Executive Officer, Mr. Chang-Wei Chiu as Director, Mr. Yongyi Zhang as Chief Financial Officer, and Mr. Simon Ming Yeung Tang as Chief Investment Officer.
Additional independent directors were appointed to the company’s governance committees, while co-founders Mr. Xiaojun Zhang and Mr. Jiayuan Lin stepped down from their leadership roles.
“With a strong balance sheet and clear long-term vision, their collective experience will help us scale beyond the 50 EH/s already deployed, not only safeguarding but strategically growing our treasury of more than 4,000 Bitcoins to maximise shareholder value.” said Peng Yu, CEO and Director of Cango.
With over 50 exahashes per second (EH/s) already deployed and more than 4,000 Bitcoins in its treasury, Cango now aims to expand its operations further, pursuing sustainable high-performance computing initiatives and investing upstream into green energy assets.
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