Cango (NYSE:CANG) is pursuing a real-world strategy distinct from the "story-driven" approach: It owns 50 EH/s of proprietary computing power, produces 650 BTC per month, exchanges equity for mining capacity, disposes of legacy businesses, provides monthly inventory disclosures, and establishes Bitcoin as the cornerstone of its balance sheet. Amid global valuation imbalances among mining companies, Cango may serve as an undervalued benchmark in Asia.