BIT Mining, a Nasdaq-listed company, has officially stepped into the Solana ecosystem with a major investment and operational move. On August 5, the firm disclosed that it had purchased 27,191 Solana (SOL) tokens, valued at roughly $4.89 million.
This acquisition follows the company’s recent announcement of a complete pivot toward a Solana-focused treasury strategy, alongside an ambitious plan to raise $300 million to support long-term acquisitions. As part of this shift, BIT Mining intends to sell off all existing cryptocurrency reserves—including Bitcoin (BTC), Litecoin (LTC), and Dogecoin (DOGE)—to concentrate entirely on building its SOL holdings, scaling its position according to available funds.
Rather than simply holding the asset, BIT Mining has taken steps to actively contribute to the Solana network. The company has launched its first self-operated Solana validator, which will be managed by its in-house technical team. This validator will allow BIT Mining to stake its SOL, directly participate in Solana’s consensus process, and earn on-chain staking rewards.
Bo Yu, the company’s Chairman and COO, emphasized the strategic importance of this move:
“This validator launch is a foundational step in operationalizing our Solana strategy. We are not just holding $SOL, we are helping power the network.”
BIT Mining’s aggressive pivot toward Solana mirrors a growing corporate trend. Other publicly traded companies have also been adding significant amounts of SOL to their treasuries. DeFi Development Corp., another Nasdaq-listed firm, recently increased its holdings to 999,999 SOL after a purchase on July 21. Consumer products company Upexi has emerged as the largest corporate holder, with over 1.8 million SOL in its portfolio.
Collectively, corporate treasuries now hold an estimated 3.4 million SOL—worth approximately $568 million at current market prices, according to The Block.
While Solana is attracting increased institutional interest, Bitcoin and Ethereum remain the dominant assets in corporate portfolios. CoinGecko data shows that public companies collectively hold around 927,376 BTC (worth roughly $105.8 billion) and about 1.75 million ETH (valued at $6.3 billion).
Disclaimer: This post is only educational purpose.DYOR No Financial advice !
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