BIT Mining Expands into Solana Ecosystem with Strategic $300 Million SOL Treasury Plan

Reuters

07-10

BIT Mining Limited has announced its strategic expansion into the Solana ecosystem, marking a significant milestone in the company's growth trajectory.

This move aims to capture emerging opportunities in the blockchain value chain and attract investors interested in Solana.

As part of this expansion, BIT Mining plans to establish a robust SOL treasury, raising between $200 million and $300 million to strengthen its reserves.

BIT Mining shares surged 309% in premarket trading.

The company will convert its existing crypto holdings into SOL and focus on long-term growth through developer community engagement and validator node operations.

CEO Xianfeng Yang expressed confidence in delivering sustainable shareholder value through this strategic shift.

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