BIT Mining Stock Doubles on Crypto Firm's Investment in Solana

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Key Takeaways

• BIT Mining Ltd. will invest $200 million to $300 million to buy Solana digital coins and set up a treasury.

• The cryptocurrency miner will initiate the treasury by converting the other digital coins it owns into Solana.

• The news sent U.S.-traded shares of BIT Mining up more than 100%.

U.S.-listed shares of BIT Mining Ltd. (BTCM) more than doubled after the cryptocurrency miner announced a big investment in the Solana digital coin.

BIT Mining explained it would raise $200 million to $300 million in phases to purchase Solana and create a treasury of the coins. The company added that to begin developing the treasury, it would convert its current cryptocurrency holdings into Solana.

It called the move "a strategic shift with its expansion into the Solana ecosystem, marking a critical milestone in the Company's long-term growth trajectory."

CEO Xianfeng Yang said BIT Mining believes Solana "is one of the most dynamic and promising ecosystems in the blockchain space. This strategic move reflects our commitment to staying adaptive and responsive in an ever-evolving industry."

BIT Mining Ltd.'s U.S.-traded shares spent most of 2025 in the red, but with today’s news they're now up for the year.

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