BIT Mining expands into Solana ecosystem

BIT Mining (BTCM) announced a strategic shift with its expansion into the Solana ecosystem. By entering the Solana ecosystem, the company aims to leverage its high-performance infrastructure and dynamic developer community to drive innovation, enhance ecosystem integration, and create sustainable shareholder value. As part of this strategic realignment, BIT Mining will build a SOL treasury as a core pillar of its strategic shift. To support its Solana-focused strategy, the company plans to raise between $200M and $300M in phases, based on market conditions and capital availability. Proceeds will be used to accumulate SOL tokens. To initiate the treasury, BIT Mining will convert its existing crypto holdings into SOL and adopt a long-term holding strategy. Looking ahead, the company intends to further capitalize on its market expertise and proprietary technologies by deepening its participation in the Solana ecosystem, including operating validator nodes to support network decentralization and security, while generating stable, on-chain staking rewards.