From Automotive Finance to Global Mining Enterprises: Decoding the Web 3.0 Computing Power Ecological Strategy

Recently, the transformation of traditional enterprises to Web 3.0 has become a market hotspot. A publicly listed company, originally focused on automotive finance, completed its transition to a Bitcoin mining company in just 9 months, quickly rising to become the second largest mining company in the world. This transformation not only reflects the company's strategic vision but also provides a reference for traditional enterprises exploring emerging fields.

From Traditional Finance to Cryptocurrency: A Bold Strategic Transformation

This company was once an important player in the Chinese auto finance sector and successfully listed on the New York Stock Exchange in 2018. However, facing growth bottlenecks in its traditional business, the company decisively entered the cryptocurrency field in November 2024, fully transforming into a Bitcoin mining enterprise. The business rapidly expanded to regions such as North America, the Middle East, South America, and East Africa. In July 2025, the company announced the appointment of a new board of directors and executive team with expertise in digital asset infrastructure, finance, and energy investment, officially completing its transformation into a Bitcoin mining enterprise.

The new CEO stated that the success of the company's transformation is attributed to accurate judgment of market timing. When finalizing the deal in 2024, the price of Bitcoin was at a cyclical low, the price of mining machines was low, and the competition for Computing Power had not yet reached a fever pitch, laying a low-cost advantage for subsequent profitability. Data shows that in the fourth quarter of 2024, the company's Bitcoin mining revenue reached 653 million yuan, with total quarterly revenue of 668 million yuan, a year-on-year increase of over 400%, completely reversing the decline in the automotive business.

Building a Global Computing Power Ecosystem: Mining is Just the Starting Point

The company chooses to start with Bitcoin mining, aiming to create a global computing power ecosystem. Compared to a simple holding strategy, mining has three advantages: strong volatility resistance, stable cash flow resilience, and the synergistic appreciation potential of assets.

The company's development strategy is divided into three stages:

1. Short-term goal: Release the existing Computing Power value by improving operational efficiency, including enhancing operational efficiency, upgrading equipment, etc., and reduce the cost of a single Bitcoin by selectively acquiring low electricity price mining sites.

2. Mid-term strategy: Build a "Energy + Computing Power" dual drive. Pilot "Green Electricity + Energy Storage" projects in renewable energy-rich areas to reduce electricity costs for some mining sites and convert surplus electricity into revenue sources. At the same time, use mining facilities to provide high-performance computing services for AI companies, opening up a second growth curve.

3. Long-term positioning: Become a flexible Computing Power scheduler, dynamically allocating resources to Bitcoin mining and AI computing, forming a composite business model of "mining revenue + AI service fees + green electricity trading."

Advantages of Traditional Public Companies in Web 3.0

Compared to native crypto companies, traditional listed companies have demonstrated unique advantages in the Web 3.0 transformation:

1. Compliance Gene: Years of experience in going public have accumulated a mature compliance system, from information disclosure standards to cross-border regulatory responses. This complete compliance framework can be transferred to new businesses.

2. Light Asset Path: By acquiring second-hand mining machines to quickly enter the industry, it avoids the market difficulties of tight new machine supply and high prices, achieving leading operational efficiency with a smaller capital investment.

3. Strategic Determination: Adhere to the principle of prioritizing cash flow quality, focusing on the construction of hard power in computing power efficiency and energy infrastructure.

New Opportunities in the Trend of Coin-Stock Integration

Against the backdrop of the integration of cryptocurrency and stock markets, the valuation logic of listed companies is being redefined. Future corporate valuations will need to combine a dual model of traditional cash flow discounting and on-chain asset value (such as Bitcoin holdings, Computing Power scale). This transition requires listed companies to establish a more transparent and efficient information disclosure mechanism to bridge the gap in traditional investors' understanding of Web 3.0 assets.

The company adopts a cautious attitude towards the emerging trend of stock tokenization. While recognizing its potential in enhancing liquidity, lowering investment thresholds, and optimizing capital efficiency, the current strategic focus remains on the two core areas of Computing Power and energy.

Conclusion

The successful cases of traditional listed companies transitioning to Web 3.0 reflect another path choice in seeking the second curve of growth. Against the backdrop of an increasingly friendly policy environment and continuous influx of institutional funds, more and more traditional enterprises are beginning to incorporate digital assets into their strategic considerations, and the "integration of coins and stocks" is moving from concept to reality. However, the success of the transformation requires precise timing, efficient resource allocation, and clear strategic positioning. In today's thriving Web 3.0 industry, long-term builders are gradually replacing short-term speculators, becoming the dominant force in the industry's development.