Cango clarifies its "AI Distributed Computing Power Network" strategy and establishes U.S. subsidiary EcoHash to accelerate transformation

According to Odaily, Cango has clarified its "AI Distributed Computing Power Network" strategy and established a US subsidiary, EcoHash, to accelerate its transformation. The company will focus on the AI inference market, empowering small and medium-sized mining farms worldwide to build a highly flexible computing power grid platform. Currently, it has established a wholly-owned subsidiary, EcoHash Technology LLC, in Dallas, USA, specifically responsible for advancing the AI computing power business. At the same time, the company has welcomed its new CTO, Mr. Jack Jin (former Head of Infrastructure at Zoom), who will lead the team to leverage their extensive experience in large-scale GPU cluster management and elastic computing to drive the development of the technical foundation. The "AI Computing Power Integration Box" and "Plug-and-Play" solutions have passed the feasibility verification of early demo projects, enabling the rapid deployment of AI edge computing nodes in traditional mining farm environments without large-scale infrastructure renovations.

Cango also disclosed that it has recently proactively adjusted its bitcoin holdings. The core purpose of this operation is to repay bitcoin-collateralized loans, strengthen the company's balance sheet and reduce financial leverage, as well as to convert some static assets into liquid funds to fully support AI computing infrastructure and technology R&D, ensuring the company has sufficient "ammunition" and financial flexibility during the AI computing power window period.