Bit Mining Shifts Strategy, Enters Solana Ecosystem With $300M Plan
2025-07-10 22:51:17
Main Idea
Bit Mining Limited, a NYSE-listed cryptocurrency mining company, is shifting its strategy by entering the Solana ecosystem with a $300 million plan to build a treasury of SOL tokens.
Key Points
1. Bit Mining plans to allocate up to $300 million for Solana integration to capture interest in Solana (SOL) and build its SOL treasury.
2. The company will initially convert existing cryptocurrency holdings into SOL as part of a long-term holding strategy.
3. CEO Xianfeng Yang stated the move reflects the company’s commitment to adaptability in the evolving blockchain industry and expressed confidence in Ethereum (ETH).
4. Bit Mining holds 7nm BTC chip designs and develops miners for Litecoin (LTC), Dogecoin (DOGE), and Ethereum Classic (ETC).
Description
Another bitcoin mining firm is pivoting. Bit Mining Limited announced a strategic expansion into the Solana ecosystem, planning a treasury of SOL tokens worth up to $300 million to fuel the company’s shift. Bit Mining Allocates Up to $300M for Solana Integration The NYSE-listed cryptocurrency mining company said this move aims to capture opportunities across
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