Bit Mining (NYSE: BTCM), a cryptocurrency infrastructure company headquartered in Akron, Ohio, announced on September 11, 2025, that it has acquired an additional 17,221 Solana (SOL) tokens, bringing its total SOL treasury holdings to 44,412 tokens. Valued at $9.95 million based on the fair market price at 0:00 UTC on September 10, 2025, the purchase underscores the company's ongoing commitment to the Solana ecosystem.
Strategic Accumulation and Validator Operations
The company characterized the latest acquisition as a continuation of its broader strategy rather than a one-off purchase. Pending shareholder approval, Bit Mining plans to rebrand as SOLAI Limited. By combining treasury accumulation with validator operations, the firm aims to align technically with Solana's on-chain economy. Chairman and Chief Operating Officer Bo Yu stated, 'We continue to see value in growing our presence in the Solana ecosystem, and the additional SOL is intended to strengthen our position while we maintain validator operations.'
Bit Mining currently runs validators on the Solana network, contributing to security and consensus. This 'hold and stake' approach allows the company not only to benefit from potential price appreciation of SOL but also to earn staking rewards, further bolstering its balance sheet.
DOLAI Stablecoin and Multi-Chain Expansion
Beyond SOL accumulation, Bit Mining highlighted its collaboration with Brale Inc. to launch DOLAI, a U.S. dollar-denominated stablecoin on Solana. DOLAI is designed to connect AI agents, merchants, consumers, and institutions, with plans for multi-chain interoperability and a compliance framework via its partner. Bit Mining describes itself as a cryptocurrency infrastructure company that has expanded from mining into payments, stablecoins, and data infrastructure. The SOL treasury and staking operations are part of this expansion across Solana and other blockchain ecosystems.
From Bitcoin Treasuries to Altcoin Treasuries
Bit Mining's move is part of a growing trend: the altcoin treasury movement. In 2025, following a wave of corporations adopting Bitcoin treasuries modeled after MicroStrategy, companies are now diversifying into major altcoins like Solana and Ethereum. By adding SOL to its balance sheet, Bit Mining not only gains exposure to the Solana ecosystem but also participates in its staking economy. This shift indicates that crypto-native firms are increasingly viewing digital assets beyond Bitcoin as strategic reserves.
As Solana's ecosystem continues to evolve and SOL prices fluctuate, Bit Mining's strategy will be closely watched by investors and industry observers alike.