TLDR:
- BIT Mining will raise up to $300M to build a long-term Solana (SOL) treasury.
- The company plans to convert part of its crypto portfolio into SOL holdings.
- Validator operations on Solana will support network security and revenue growth.
- Strategy marks shift from mining to broader Web3 and blockchain infrastructure.
BIT Mining has unveiled plans to shift its long-term strategy toward Solana.
The company will build a dedicated SOL treasury and raise up to $300 million to support this move. With the transition, it aims to deepen its role within the high-growth Solana ecosystem.
The firm will also convert existing crypto assets into SOL, signaling a firm commitment to the network. This shift marks a broader realignment to capture fresh opportunities across the evolving crypto landscape.
BIT Mining Company Targets $300M SOL Treasury
BIT Mining, listed on the NYSE under BTCM, confirmed on July 10 that it will allocate up to $300 million toward building a Solana treasury.
According to a press release, this fund will be raised in phases, depending on market conditions. The company intends to strengthen its reserve by purchasing and holding SOL over the long term.
Besides raising capital, BIT Mining will convert part of its current crypto portfolio into SOL. This move aligns with its strategy to center operations around Solana. The company plans to deploy funds steadily, building a substantial stake while tracking Solana’s market dynamics.
As part of the transition, BIT Mining also aims to run validator nodes within the Solana network. This step will allow the company to support network security and earn on-chain rewards.
According to its statement, the company views validator operations as a reliable method for generating long-term value.
Running nodes will also increase BIT Mining’s visibility and operational presence in the Solana ecosystem. This shift supports the firm’s ambition to play an active role in the network’s growth and decentralization efforts.
Long-Term Strategy Signals Broader Expansion
The decision reflects BIT Mining’s wider goal to adapt to market trends and expand beyond traditional mining.
CEO Xianfeng Yang described the shift as a bold yet necessary move for the company’s future. He added that BIT Mining’s infrastructure and experience will help it grow within the Solana ecosystem.
The firm, which currently spans mining hardware, data centers, and chip design, now positions itself to serve the broader blockchain economy. By prioritizing Solana, it seeks to diversify its revenue base and tap into new opportunities emerging in Web3 development.
The announcement, shared by Wu Blockchain on social media, sparked fresh attention from the crypto sector.
Crypto mining firm BIT Mining (NYSE: BTCM) has announced a strategic expansion into the Solana ecosystem, with plans to build a SOL treasury of up to $300 million as a core initiative. The company intends to raise $200 million to $300 million in phases to accumulate SOL and will…
— Wu Blockchain (@WuBlockchain) July 10, 2025
As Solana continues to gain traction, BIT Mining’s move could reflect a growing trend among institutional players. With plans to deploy capital and operate on-chain, the firm positions itself closer to the core of next-gen blockchain infrastructure.
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Source: https://blockonomi.com/bit-mining-shifts-focus-with-300m-solana-expansion-plan/