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Solana News:<a href="https://xpertsstudio.com/<a href="https://xpertsstudio.com/us-bitcoin-etfs-snap-9-day-inflow-streak-with-200-million-daily-outflow/” title=”US Bitcoin ETFs Snap 9-Day Inflow Streak with $200 Million Daily Outflow”>bitcoin-50-week-sma-rejection-at-78380/” title=”Bitcoin: 50 Week SMA Rejection at $78,380″>Bitcoin mining firm Bit Mining plans to raise 200–300 million to build a substantial Solana token treasury.
The company will convert existing crypto holdings into Solana and adopt long-term holding strategies.
Stock prices surged to 11 in pre-market trading, up 350% from Wednesday’s 2 closing price.
The company plans to operate validator nodes on Solana to support network decentralization and security.
CEO Xianfeng Yang called the move a bold step into one of blockchain’s most dynamic ecosystems.
Bit Mining ranks as the 17th-largest Bitcoin miner globally by market capitalization.
The pivot follows Bit Digital’s similar move to abandon Bitcoin mining for Ethereum-focused strategies.
Bit Digital’s stock initially declined 15% but recovered to surge 80% since their pivot announcement.
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