Ulanqab, situated in Inner Mongolia, has emerged as a prime destination for domestic investment in intelligent computing. This is largely due to its advantageous conditions, including low electricity costs, cool temperatures ideal for cooling systems, a strategic geographical location, and a well-established computing power industry cluster that has been developing for over a decade. Recently, the region has rapidly signed agreements for 12 intelligent computing projects, with a cumulative planned investment surpassing 130 billion yuan. Prominent companies such as Huawei, Alibaba, and DeepSeek have all set up operations in the area. Despite the local computing power industry having reached a certain scale, the actual revenue generated from the 100-billion-yuan contract value is still relatively modest. The region faces challenges in effectively utilizing computing power and avoiding the risk of becoming merely a "landlord for data centers." Whether Ulanqab can transition from simply leasing server racks to engaging in computing power scheduling, Token trading, and AI applications—ultimately achieving the goal of becoming a "Token capital"—will hinge on critical factors such as securing actual orders, ensuring a stable chip supply, and maintaining high data center utilization rates.