#BitMining Stock Surges 350% After Announcing #Solana Ecosystem Pivot Strategy


$BTC mining firm Bit Mining plans to raise $200-300 million to build a substantial $SOL token treasury.


The company will convert existing crypto holdings into $SOL 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 $BTC miner globally by market capitalization.


The pivot follows #BitDigital'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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July 10, 2025 at 5:41 PM
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