$CANG went 0 → 50 EH/s in 9 months.

This is what mispriced actually looks like.

I’m talking about @Cango_Group, one of the most mispriced mining plays on my watchlist.

The reason I’m paying attention is simple: execution speed.
In mining, scale usually takes years.

Most miners take 3–4 years to hit that kind of deployment cadence.

1 EH/s = 10¹⁸ hashes/second
That’s 50,000,000,000,000,000,000 hash attempts every second.

The balance sheet strategy is also unusually clean: HODL-first.
They’ve accumulated $600M BTC and run a strict where BTC goes straight to treasury.

They’re running at 92%+ hashrate efficiency (per the numbers shared), which is the kind of line item that separates operators from promoters.

Then Q3 hit and the financials finally started matching the infra buildout:
- $224.6M revenue (+60% QoQ)
- $37.3M net income (vs -$9.5M last year)
- $80.1M adj EBITDA (~66× YoY)

> Valuation mispricing <

Market’s pricing it around $1.56 while Greenridge Capital put a $4 (≈ 156% upside).

And relative to peers like @CleanSpark_Inc and @IREN_Ltd, it still looks underpriced vs:
- BTC on the balance sheet
- machines deployed
- data center / energy footprint

> Expansion Plan <

They’re building toward a real energy + compute footprint:
- 50MW in Georgia operational
- 1.5MW solar in Oman
- 150MW Indonesia project (scalable to 300MW)

> Investments/Fundings <

Cango announced a $10.5M cash investment from EWCL (their Class B holder).

- 7M Class B shares issued (20 votes/share)
- Ownership goes ~2.81% → ~4.69%
- Voting power goes ~36.68% → ~49.61%

This funding allow Cango and EWCL to have tighter alignment to push 2026 execution across: mining efficiency / fleet upgrades / asset acquisitions + plus Energy + AI compute pillars.

https://x.com/arndxt_xo/status/2007852339437383982