BIT Mining Moves to Expand into Solana (SOL)

While treasury strategy plans have been on the rise for Bitcoin (BTC), Ethereum (ETH), and altcoins, the latest development focuses on Solana (SOL).

BIT Mining’s Strategic Announcement

Chinese Bitcoin miner BIT Mining (BTCM) recently announced its strategy to expand into the Solana (SOL) ecosystem through their official website. The company plans to raise between $200 million and $300 million to create a Solana treasury.

> “As part of our strategic transformation, we will grow Solana assets. Considering market conditions and available capital, we plan to raise funds from a minimum of $200 million to a maximum of $300 million. The newly raised funds will be used to purchase Solana tokens.”

BIT Mining also plans to convert its existing cryptocurrency holdings to Solana, stating, “We will adopt a long-term holding strategy for Solana. We aim to increase participation in the Solana ecosystem and generate on-chain staking rewards.”

The company aims to support the Solana network by utilizing its infrastructure and expertise, further strengthening its reserves with ongoing SOL token purchases.

*This is not investment advice.