The move marks a significant departure from its Bitcoin-heavy background and positions the company to become a major player in […]
The post Chinese Crypto Firm Shifts Focus to Solana with Massive Treasury Plan appeared first on Coindoo.
The move marks a significant departure from its Bitcoin-heavy background and positions the company to become a major player in Solana’s growing DeFi and staking economy.
According to its official announcement, BIT Mining intends to raise between $200 million and $300 million to purchase Solana tokens, with the goal of converting a large portion of its current crypto holdings into SOL. The company also confirmed it will adopt a long-term holding strategy and tap into staking rewards across the Solana network.
Framing the decision as part of a broader strategic transformation, BIT Mining said it aims to leverage its infrastructure and technical expertise to deepen its participation in Solana’s ecosystem. This includes building treasury reserves while supporting network activity through on-chain engagement.
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As interest in blockchain-native treasuries continues to spread from Bitcoin and Ethereum to other layer-1s, BIT Mining’s pivot to Solana signals growing confidence in the chain’s long-term value and utility.
The post Chinese Crypto Firm Shifts Focus to Solana with Massive Treasury Plan appeared first on Coindoo.
Source: https://coindoo.com/chinese-crypto-firm-shifts-focus-to-solana-with-massive-treasury-plan/
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