BIT Mining Increases Solana Holdings
BIT Mining Limited (BTCM) has boosted its Solana (SOL) holdings by 17,221 tokens. This raises its total Solana treasury to 44,000 SOL. At current prices, the holdings are worth about $9.95 million.
Bo Yu, Chairman and COO of BIT Mining, said the company aims to deepen its role in the Solana network. He stated, “Adding these additional resources to our treasury will strengthen our position in the ecosystem. We will continue to operate our validators to help strengthen and secure the network.”
The company is exploring new opportunities within Solana. It combines validator operations with a growing treasury to gain financial and strategic benefits. More details are available in the official announcement.
New Stablecoin Launch and Multi-Chain Plans
BIT Mining recently launched DOLAI, a stablecoin pegged to the US dollar. It is built on the Solana blockchain. DOLAI aims to connect AI agents, merchants, consumers, and institutional finance using Solana’s fast network.
The company plans to expand DOLAI into a multi-chain framework. BIT Mining is partnering with Brale Inc. to ensure compliance with regulatory standards. This move positions BIT Mining as a key player in Solana’s growing on-chain economy.
Market Outlook for Solana
Market analysts are optimistic about Solana’s future. Matt Hougan, Chief Investment Officer at Bitwise, said, “All the ingredients are there for an epic end-of-year run for Solana.”
Hougan compared Solana’s potential to Bitcoin’s rise from $40,000 to nearly $125,000 in 2024. He also noted Ethereum’s surge earlier this year, when prices nearly tripled to $5,000 by August.
According to CoinMarketCap, Solana (SOL) is currently priced at $226.42. This reflects a 1.38% increase in the last 24 hours. Its daily trading volume is $9.03 billion.
Meanwhile, BTCM shares rose 2.54% to $2.83 on the NYSE, as reported by Yahoo Finance.
BIT Mining’s growing Solana treasury shows confidence in the network’s growth. With corporate treasuries and ETF inflows increasing, Solana may be set for a strong year-end rally.
