Two Chinese concept stocks rank among the top 20 globally in BTC holdings, with mining transformation becoming the new trend

【CoinPush】An interesting phenomenon—among the top 20 companies holding the most BTC worldwide, there are now Chinese faces as well.

Cango and Next Technology Holding, two US-listed companies, hold 7,419 and 5,833 BTC respectively, ranking 16th and 18th. Both utilize overseas entities for their holdings, carving out a new path under domestic regulatory frameworks.

Among them, Cango’s story is more dramatic. Originally an auto finance company, it made a spectacular turnaround in 2024—directly entering the Bitcoin mining sector. It acquired a large number of mining machines from Bitmain in one go, boosting its hash rate to the second tier globally at 50EH/s. After the acquisition, control was transferred to the Bitmain ecosystem, with Jin Xin from Bitmain becoming the new chairman of the board. This is not just simple investment; it’s a direct participation in the competition for BTC infrastructure.

Next Technology, on the other hand, employs a different approach. Essentially, it’s a shell company used by YueShang Group, a micro-business SaaS platform, to go public. Currently, it has only 8 full-time employees. But its background is not simple—founders include Dai Zheng, co-founder of Qunar, and the investors are a luxurious lineup: Yao Jinbo, Tencent, JD.com, and others. Using such a lightweight organizational structure to hold 5,833 BTC demonstrates a unique efficiency.

This phenomenon reflects that, in an increasingly institutionalized global BTC ecosystem, Chinese capital is entering through various innovative methods. Whether through mining or pure holding strategies, everyone is finding ways to participate in this global wealth game.