BIT Mining Unveils $300M Expansion Strategy for Solana Ecosystem Growth
BIT Mining Limited Announces Strategic Expansion into the Solana Ecosystem
BIT Mining’s New Direction
AKRON, Ohio, July 10, 2025 /PRNewswire/ — BIT Mining Limited (NYSE: BTCM), a prominent player in the cryptocurrency mining sector, has unveiled a significant strategic initiative aimed at expanding its operations within the Solana ecosystem. This pivotal move is designed to enhance the company’s long-term growth potential and tap into new opportunities within the blockchain landscape, appealing to investors interested in the Solana network.
Building a SOL Treasury
As part of its strategic pivot, BIT Mining plans to establish a substantial treasury of SOL tokens, which will serve as a foundational element of its new approach. The company aims to raise between $200 million and $300 million in multiple phases, contingent on market conditions and available capital. The funds will be utilized to acquire SOL tokens, thereby bolstering the company’s treasury reserves through ongoing investments and strategic acquisitions.
Transitioning Existing Holdings
To kickstart this treasury initiative, BIT Mining intends to convert its current cryptocurrency assets into SOL and adopt a long-term holding strategy. The company is also looking to leverage its expertise and proprietary technologies to deepen its involvement in the Solana ecosystem. This includes operating validator nodes to enhance network decentralization and security while generating consistent staking rewards.
Leadership Insights
Xianfeng Yang, the CEO of BIT Mining, expressed enthusiasm about this strategic transition, stating, “We are thrilled to embark on this ambitious journey into what we consider one of the most vibrant and promising ecosystems in the blockchain industry. This strategic decision underscores our commitment to remain agile and responsive in a rapidly changing market. With our robust execution capabilities and forward-thinking vision, we are optimistic about our potential to foster sustainable growth and deliver enduring value to our shareholders.”
About BIT Mining Limited
BIT Mining (NYSE: BTCM) is a technology-focused cryptocurrency mining enterprise with a diverse range of operations, including mining, data center management, and the manufacturing of mining equipment. The company is in the process of developing a vertically integrated cryptocurrency mining ecosystem that encompasses self-mining, hosting services, and proprietary mining hardware. BIT Mining also possesses advanced capabilities in the development of mining hardware for BTC, LTC/DOGE, and ETC.
Forward-Looking Statements
This announcement contains forward-looking statements as defined by the Securities Exchange Act of 1934 and the U.S. Private Securities Litigation Reform Act of 1995. These statements can be identified by terms such as “will,” “expects,” “anticipates,” “plans,” and similar expressions. They reflect management’s current expectations regarding future events and are subject to risks and uncertainties that may cause actual results to differ significantly from those projected. Further details regarding these risks can be found in the company’s filings with the U.S. Securities and Exchange Commission. BIT Mining does not undertake any obligation to update these forward-looking statements unless required by law.
Contact Information
For further inquiries, please reach out to:
BIT Mining Limited
Email: [email protected]
Website: www.btcm.group
Media Contact
Brandi Piacente
Piacente Financial Communications
Phone: +1 (212) 481-2050
Email: [email protected]
For the original content, please visit: PR Newswire
SOURCE: BIT Mining Limited
