Crypto firm BIT Mining nearly triples on solana pivot

SOLAI

10/07/2025 12:05

** U.S.-listed shares of crypto firm BIT Mining BTCM.N jump 184.2 % to $6.99 premarket

** BTCM announces strategic shift as it looks to hoard solana, seeking to offer its shareholders exposure to the cryptocurrency

** Co plans to convert its existing crypto holdings into solana and adopt a long-term holding strategy

** BTCM plans to raise between $200 million and $300 million in phases to fund its solana-focused strategy

** In recent months, several companies have attempted to follow in the footstepsof Michael Saylor's Strategy MSTR.O

** As of last close, BTCM stock down 2.4% YTD

 (Reporting by Arasu Kannagi Basil in Bengaluru)

 ((ArasuKannagi.Basil@thomsonreuters.com))