Catenaa, Sunday, August 10, 2025-Bit Mining has purchased 27,191 Solana (SOL) tokens for about $4.9 million and launched its first self-operated validator, marking a shift toward a Solana-focused treasury and infrastructure strategy.
The NYSE-listed mining company said it will stake its holdings to generate onchain rewards while contributing to network security and decentralization.
The move follows Bit Mining’s July 10 announcement that it would expand into the Solana ecosystem and raise up to $300 million to fund SOL purchases and infrastructure development.
Company officials said the validator launch reflects its plan to gain direct exposure to SOL while creating new revenue streams through staking rewards.
Bit Mining joins a growing list of public companies building Solana-denominated treasuries and validator operations, a trend giving investors equity-based exposure to SOL alongside traditional tokens and ETFs.
According to The Block’s data, corporate treasuries now collectively hold 3.4 million SOL worth more than $568 million.
Other firms have also accelerated their Solana strategies. DeFi Development Corp recently raised $112.5 million to expand its SOL holdings, bringing its total to 1.29 million tokens valued at about $216 million. Upexi last week secured a $500 million equity line to fund additional SOL accumulation.
Bit Mining’s move underscores rising institutional interest in Solana as companies diversify crypto treasuries beyond Bitcoin and Ethereum into assets that offer staking income and ecosystem participation.
