BIT Mining launches Solana validator, purchases 27,191 SOL tokens

BIT Mining Limited (NYSE: BTCM) announced the launch of its first Solana validator and the purchase of 27,191 SOL tokens for approximately $4.89 million, according to a company statement.

The cryptocurrency infrastructure company said the validator is operated by its internal infrastructure team and will stake the company's SOL holdings to generate on-chain rewards. The deployment follows BIT Mining's July announcement of a strategic shift into the Solana ecosystem, backed by plans to raise up to $300 million for SOL acquisitions and infrastructure development.

"This validator launch is a foundational step in operationalizing our Solana strategy. We are not just holding SOL, we are helping power the network," said Bo Yu, Chairman and Chief Operating Officer of BIT Mining.

BIT Mining stated that operating its own validator allows the company to contribute to Solana's network decentralization and security while generating rewards through validator operations. The company said this marks the beginning of efforts to build a broader presence across the Solana validator network as it scales its SOL treasury.

The company described itself as transitioning its core business toward Solana treasury operations, leveraging its blockchain infrastructure expertise. BIT Mining said it plans to repurpose its legacy capabilities, including ASIC design and data center operations, to support its strategic shift toward the Solana ecosystem.

The announcement represents BIT Mining's move away from traditional cryptocurrency mining operations toward staking and ecosystem development within the Solana network.

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