CANG
Cango Inc.
stock NYSE ADR

Just saw the market, Bitcoin officially broke $100,000, this wave is finally here. Although it fell for a while in the middle, it still stood back up steadily, and it's up with volume, so it feels like the mood is really up.
The most direct beneficiary of bitcoin's rise is, of course, the mining companies. I've been keeping an eye on $CANG (NASDAQ:CANG) lately, who mined 530 BTC in March, and their position has risen to 2,475, as well as being included in Bitwise's Bitcoin Standard Inc ETF (OWNB). While the market heat was previously focused on $MARA and $RIOT, I think mining companies like $CANG, which have real output and a more decentralized global presence, may be more worth re-evaluating once this wave is up.

Read in The Information that David Bailey, who advised the Trump campaign on crypto policy, is planning to raise $300 million to start a publicly traded Bitcoin investment firm. The goal is clear - to replicate MicroStrategy's ($MSTR) model of “long BTC + inflated market capitalization”.
He plans to raise $200 million in private IPOs and $100 million in convertible bonds, which, to be honest, is almost identical to Saylor's logic. It also illustrates a trend: more and more institutions are starting to view BTC as a long-term core asset, rather than just a small allocation of “digital gold”.
Against this backdrop, I'm also keeping an eye out for companies that actually “have coins on hand and keep digging”, such as $CANG (NASDAQ:CANG), which produced 530 BTC in March, has seen its total position rise to 2,475, and has been added to Bitwise's Bitcoin Standard. Bitwise's Bitcoin Standard Inc ETF (OWNB). It's not the biggest volume, but it's going pretty steady, and with a more decentralized global layout, it's much less risky.

With CZ predicting Bitcoin could hit $500K–$1M this cycle and crypto market cap reaching $5T, it’s hard not to look at undervalued infrastructure plays. Everyone talks about $MARA and $RIOT, but $CANG has been making aggressive moves—divesting from China, expanding globally, and posting one of the highest BTC production efficiency rates among public miners.
They’re still flying under the radar, trading at ~1.8x EV/EBITDA, which is way below the industry average. Might be time to re-evaluate what the second-tier “black horses” could do in this next phase.