Antalpha Founder Takes Chair at Cango as Bitcoin Mining Pivot Concludes
Cango Inc. has formally completed its pivot into a Bitcoin mining company with a sweeping overhaul of its board and executive leadership, the company announced Tuesday.
The newly restructured board is now chaired by Xin Jin, founder and CEO of Antalpha, a financial services platform backed by Bitmain. Jin’s appointment cements Cango’s role as a proprietary mining proxy for Bitmain.
As part of the reshuffle, Peng Yu has been named CEO and director of Cango. Yu previously served as chief strategy officer at Antalpha and has a background in asset management. He succeeds Jiayuan Lin, who stepped down from his roles as CEO, interim CFO, and director.
Other key appointments include Chang-Wei Chiu, also a director at Antalpha, joining Cango’s board; Yongyi Zhang returning as CFO, having previously served in the same role before the company’s pivot; and Simon Ming Yeung Tang being named Chief Investment Officer. The new leadership team brings combined expertise in corporate finance, M&A, and renewable energy development—areas Cango aims to leverage in its next phase of growth.
With over 50 EH/s of deployed mining capacity and a treasury of more than 4,000 BTC, Cango is currently the fourth-largest public Bitcoin miner in North America, trailing only Marathon Digital (MARA), CleanSpark, and IREN. The company said it plans to build on this foundation by scaling its mining operations and expanding upstream into dedicated green energy infrastructure.
Cango previously operated as an automotive transaction platform in China before announcing its transition into Bitcoin mining earlier this year. The shift was executed through a series of acquisitions and rebranding efforts, including a merger with entities affiliated with Bitmain and Antalpha.
