This is a person who can navigate all interpersonal relationships with ease; she has a unique ability to make everyone feel comfortable. When you meet her, she is always talking—smartly, charmingly, effectively, expressing attitudes and positions… Juliet Ye always tells everyone that she is a "Bitcoin elementary school student." In November 2024, she was still in the automotive industry, and whenever her name comes up, people inevitably mention many labels associated with her: a female executive in a listed company, a journalist, content-driven, and from a non-technical background.

Back in 2004, Juliet Ye graduated with a master's degree from the University of Hong Kong. Her first job was as a reporter for The Wall Street Journal. During the golden age of print media, journalists had a natural mission of justice, and she had a precious drive when she was a reporter. She disliked stability and was not accustomed to lying flat; she told herself to try reporting more complex stories and dared to step out of her comfort zone. With this determination, she created many impressive reports, such as those on the Beijing Olympics and the Wenchuan earthquake. After five years of work, she joined FTI— a global leading independent business consulting firm. "This is the opposite of being a journalist; your perspective will be very different. You need to speak from the company's point of view, which is quite a pull, but it often helps you see the subtle pixels within the capillaries of society and these companies more deeply."

At this time, Bitcoin had just begun to emerge, quietly circulating among geek communities, cryptography forums, survivalists, and anarchists, like a parallel world currency system that was not taken seriously by the mainstream. Bitcoin truly entered the public eye during the bull market of 2017, its explosive growth caught the world's attention and drew regulatory scrutiny.

A year later, in 2018, after working at FTI for eight years, Juliet Ye turned away; she wanted to explore a newer, more challenging world. With the valuable experience she had accumulated, Juliet joined Cango as the PR & IR Director. At that time, Cango was a leading automotive finance company in China, and Juliet's arrival coincided with the company's preparations for going public. "This company was too low-key; the outside world was completely unaware. The capital market needed to voice its presence and be seen; no company can accept being ignored." Starting from scratch, Juliet began to build the company's publicity path, allowing more people to understand Cango and bringing it to the attention of investors.

In 2020, with changes in the economic environment and structural adjustments in the automotive industry, Cango began seeking transformation, gradually shifting its business towards automotive trading. It was also in this year that the global financial crisis hit, with rising U.S. stocks, depreciating dollars, and bank runs… Bitcoin was once again pushed to the forefront, this time seen as a tool to combat inflation.

Four years later, Cango had a new intersection with Bitcoin. For Juliet Ye, hearing that the company was transitioning from a real industry to Bitcoin was surprising because it was a niche industry completely outside the mainstream. Having grown up along a mainstream career path, this was a brand new challenge for her, but she quickly accepted the change, confidently embracing it and stepping outside her comfort zone. "Actually, there is a reasonable aspect to it. Cango has always been a company in constant change, seeking its own direction in a changing market. Among this, one thing Cango has always pursued is new energy, and Bitcoin, to some extent, has financial attributes while also being a new energy source that can flexibly adjust the power grid."

"It will be chaotic, but returning to the original goal, if you truly calm down, clarify your thoughts, and get closer to the truth, you can seize every possibility." She started from scratch again, building her and her team's new understanding of Bitcoin, breaking away from the experiences accumulated along the mainstream path, and actively stepping out of her comfort zone to communicate and learn from the outside world.

Juliet positioned herself as an anchor, reinterpreting and constructing new trust, writing a new narrative for the company, allowing Cango to better present itself to investors and analysts. "It can be frustrating; this is indeed a world that is too different from the past. A significant pain point is: telling my story to you. How to fully communicate our investment story to the industry and investment community to win public opinion and capital support for the company's sustainable development. The leap from traditional finance to digital assets is enormous, but as a listed company, the essence remains the same: continuously creating value for shareholders. This is something we will continue to do."

"Rather than being troubled by myself, it is better to accept change and integrate into it." Juliet believes that the most different aspect from the past is that this is an industry based on trust. The starting point is that you must recognize the logic of Bitcoin to open the door to this industry.

The world of Web3 has its own unique perceptions, preferences, and requirements for content. As the tide of the times rolls forward, how should we find a new balance with Cango's historical accumulation? Juliet's past work experience tells her that the capital market's observation of a Bitcoin company mainly looks at several aspects: first, whether the company has self-operating capabilities; second, the company's future development direction; third, the capabilities and execution of the company's management team.

Based on these three points, she also provided Cango's answers:

1. Cango's compliance gene and strong cash flow

The mature compliance system accumulated from its 2018 NYSE listing (such as SEC disclosure standards and cross-border regulatory responses) is fully migrating to the new business. Currently, Cango's cash flow is primarily secured from three aspects: first, sufficient cash reserves—holding $118 million in cash and equivalents as of the second quarter of 2025. Second, a low-cost expansion strategy, focusing on acquiring second-hand mining machines rather than building mining farms, while extending to the green energy sector to achieve low-cost or even zero-cost mining. Finally, we are actively expanding financing channels in the capital market. Currently, our debt-to-equity ratio is very low, leaving room for increasing debt. We will prioritize debt financing over equity financing. Therefore, at least by 2025, we can support the company's strategy through our liquidity and debt financing.

2. Cango's light asset path and future direction of green electricity and HPC

Quickly entering the industry through the acquisition of second-hand mining machines (with a single-coin depreciation cost of only $15,000) and establishing strategic partnerships with key industry players, including Bitmain and Antalpha.

Cango's short-term goal is to release 50 EH/s of computing power value through operational efficiency improvements, including enhancing operational efficiency and upgrading machines, and by selectively acquiring low-cost electricity mining sites to reduce the cost per BTC.

The mid-term goal is to build a "dual-drive" model of "energy + computing power": piloting "green electricity + energy storage" projects in renewable energy-rich areas, which can not only bring some mining sites' electricity costs close to zero but also convert surplus electricity into revenue sources. At the same time, repurposing mining facilities to provide HPC services for AI companies, opening up a second growth curve.

The long-term positioning is to become a flexible computing power dispatcher: dynamically allocating resources to BTC mining and AI computing, forming a composite business model of "mining revenue + AI service fees + green electricity trading."

3. Cango's strategic determination

The management team has solid industry experience, and the company has risen to the second in global computing power in just nine months, thanks to the management's execution. Adhering to the principle of prioritizing cash flow quality, focusing on building hard power in computing efficiency and energy infrastructure. In our view, the essence of traditional enterprises entering Web3 is to exchange physical resources for on-chain value anchoring. Only through breakthroughs in technology, compliance, and economic models can we leverage strengths, avoid weaknesses, and achieve stability and longevity.

Collision of Mainstream and Non-Mainstream

Juliet does not define herself and does not wish to be constrained by so-called "labels." The market rises and falls, opportunities and changes coexist, and in this, she continuously feels and breaks through, constantly reshaping herself in the process, finding her role in the tide of the times. Juliet dislikes repetition and monotony. "This industry lacks the craftsmanship of past mainstream industries; it is full of different expressions and rough edges, which is the charm of this industry."

Juliet and Bitcoin, two lines in a parallel world, have now intersected because of Cango this year. When mainstream and non-mainstream collide, new sparks are generated. As for where the boundaries of the future lie and what they will look like, Juliet is no longer entangled—calming down, time will naturally provide better answers.

In a poor market environment, many confused young people exist. She always thinks that for them, calming down is truly important, sticking to their interests, and listening to their inner selves. The compounding of time is not always within reach, but it will certainly come. She is confident that the accumulation of time will empower Bitcoin and Cango towards a better future.

In the cold winter season, almost all plants are asleep, but only one type of orchid called "Liting" can sense the awakening of yang energy, sprouting new buds amidst the ice and snow, finding hope for life. The small orchid may not have the grandeur of a large tree, but it has its own strength. It is not only the towering tree that signifies victory; the small orchid also has its own value.

"As long as we are willing, we can become everything because everything has its own value. Do not seek a single answer; seek your own answer."

This article is from a submission and does not represent the views of BlockBeats.

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。