BIT Mining Bets Big on Solana, Eyes $300M Token Haul

BIT Mining (NYSE: BTCM) is ditching Bitcoin for Solana—converting its 19 BTC stash (≈$2.1 M) into SOL and aiming to raise $200–$300 million to bulk up its holdings. The pivot, touted as a move to “capture emerging opportunities across the broader blockchain,” sent BTCM shares soaring 350% pre-market to $11.20 and trading 250% higher at $8.38.

Facing halving-driven revenue pressure, BIT Mining leans on diversification: in December, its litecoin and dogecoin profits tripled those from Bitcoin. Its peer Bit Digital likewise shifted its entire treasury to ETH, zeroing in on staking as the next growth frontier. #solana #bitcoin