ChainCatcher News: In 2025, among the top 20 companies holding BTC, two Chinese companies made the list: Cango (灿谷) ranked 16th with 7,419 BTC, and Next Technology Holding ranked 18th with 5,833 BTC. Both are US-listed Chinese concept stocks, utilizing offshore entities to allocate Bitcoin amid strict domestic regulations.
Cango originally was an auto finance company, and in 2024, it transitioned into Bitcoin mining. After acquiring mining machines from Bitmain, its hash rate reached 50EH/s, making it the second-largest mining company globally. After the acquisition, control was transferred to Bitmain-related entities, with Antalpha founder Jin Xin serving as chairman of the board.
Next Technology is a NASDAQ shell company for YueShang Group, a micro-business SaaS platform, with only 8 full-time employees. The company’s founders include Dai Zheng, co-founder of Qunar, and investors such as Yao Jinbo, Tencent, and JD.com.
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