While treasury strategy plans have been on the rise recently for Bitcoin (BTC), Ethereum (ETH), and altcoins, the latest move comes for Solana (SOL). At this point, BIT Mining announced that it would raise up to $300 million for the Solana treasury. Chinese Company Makes Move to Solana (SOL)! According to the official statement, Chinese Bitcoin miner BIT Mining (BTCM) announced a strategic move to expand into the Solana (SOL) ecosystem through its official website. The company added that it plans to raise between $200 million and $300 million to build the SOL treasury. “As part of our strategic transformation, we will grow Solana assets. Considering market conditions and available capital, we plan to raise funds from a minimum of $200 million to a maximum of $300 million. The newly raised funds will be used to purchase Solana tokens. BIT Mining also stated that it plans to convert its existing cryptocurrency holdings to Solana. “We will adopt a long-term holding strategy for Solana. We aim to increase participation in the Solana ecosystem and generate on-chain staking rewards,” the company said. The company stated that it aims to support the Solana network by utilizing its infrastructure and expertise and strengthen its reserves with ongoing SOL token purchases. *This is not investment advice.
Bitcoin Surpasses Amazon. Is Apple Next?
1 hour ago
Satoshi Overtakes Zara Founder as BTC Holdings Soar by $4 Billion
1 hour ago
BitVM3 promises cheaper Bitcoin bridges — but not yet
1 hour ago
XRP Price Spike Outpaces Bitcoin as Open Interest Nears 6-Month High
1 hour ago
Find out why crypto is up today and the best altcoins to buy
1 hour ago
Blocksquare surpasses $200m in tokenized real estate amid RWA surge
1 hour ago