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š BIT Mining Stocks Strengthen After Announcing Solana-Based Treasury Strategy
BTCM shares surged significantly by +355% in pre-market session to $11.20 after this Bitcoin mining company announced a major plan to shift a significant portion of their digital asset treasury to the Solana network ($SOL ). Although prices corrected after the initial euphoria, the stock still closed with an impressive increase of +170% compared to the previous closing price.
This move makes BIT Mining the latest public company to adopt a long-term cryptocurrency asset accumulation strategy, similar to the approach popularized by Michael Saylor through MicroStrategy. The company plans to raise $200ā$300 million through the issuance of new shares or debt, which will be fully allocated to purchasing Solana tokens. In addition to direct accumulation, the company also plans to convert some of its existing crypto holdings into SOL and participate in staking as a source of long-term yield.
For context, before this announcement, BIT Mining's market cap was only $39 million. The surge in stock price indicates market enthusiasm for the new narrative: the transition to next-generation layer-1 assets like Solana, which has high transaction throughput and lower cost structure compared to Bitcoin and Ethereum.
On the other hand, the price of $SOL also experienced a slight increase of +0.9% on Thursday as institutional interest in Solana as a digital treasury alternative rose.
This move extends the list of public entities actively diversifying their treasury strategies, from merely holding Bitcoin to being more adaptive to the potential of other cryptocurrencies. An important signal that digital asset allocation strategies are now entering a phase of multichain expansion.
š Disclaimer: Not Promotion & Not Financial Advice
#BITMining #BTCM #Solana #SOL #crypto
BTCM shares surged significantly by +355% in pre-market session to $11.20 after this Bitcoin mining company announced a major plan to shift a significant portion of their digital asset treasury to the Solana network ($SOL ). Although prices corrected after the initial euphoria, the stock still closed with an impressive increase of +170% compared to the previous closing price.
This move makes BIT Mining the latest public company to adopt a long-term cryptocurrency asset accumulation strategy, similar to the approach popularized by Michael Saylor through MicroStrategy. The company plans to raise $200ā$300 million through the issuance of new shares or debt, which will be fully allocated to purchasing Solana tokens. In addition to direct accumulation, the company also plans to convert some of its existing crypto holdings into SOL and participate in staking as a source of long-term yield.
For context, before this announcement, BIT Mining's market cap was only $39 million. The surge in stock price indicates market enthusiasm for the new narrative: the transition to next-generation layer-1 assets like Solana, which has high transaction throughput and lower cost structure compared to Bitcoin and Ethereum.
On the other hand, the price of $SOL also experienced a slight increase of +0.9% on Thursday as institutional interest in Solana as a digital treasury alternative rose.
This move extends the list of public entities actively diversifying their treasury strategies, from merely holding Bitcoin to being more adaptive to the potential of other cryptocurrencies. An important signal that digital asset allocation strategies are now entering a phase of multichain expansion.
š Disclaimer: Not Promotion & Not Financial Advice
#BITMining #BTCM #Solana #SOL #crypto
*Bitcoin miner pivots to Solana, stock explodes 350%
Another Bitcoin miner just said "screw this" and pivoted to altcoins...
Bit Mining announces $300M Solana treasury plan
Stock went from $2 to $11 in pre-market (now $6.29)
Plans to convert BTC holdings to SOL
Becoming Solana validator too
This pivot trend is getting wild
*The Solana pivot plan
What they're doing:
-Raising $200-300M for SOL treasury
-Converting existing crypto to SOL
-Running validator nodes on Solana
-Long-term holding strategy
Current holdings: Only 19 BTC (~$2M) so not much to convert
CEO quote: "Most dynamic and promising ecosystem in blockchain space"
*Market reaction insane
Stock movement:
-Wednesday close: $2.00
-Pre-market high: $11.00 (+350%)
-Current: $6.29 (still +215%)
Why the pump? Market loves the Solana narrative right now.
17th largest Bitcoin miner by market cap just ditched Bitcoin for SOL.
*Following Bit Digital's playbook
Similar move last month:
-Bit Digital pivoted to Ethereum staking
-Initially dropped 15% to $1.99
-Then surged 80% to $3.59
Pattern: Bitcoin mining ā altcoin treasury = stock pump
Investors betting on ecosystem growth over mining margins.
*My take
This is fascinating. Bitcoin miners are basically giving up on their core business.
Why the pivots?
-Mining margins getting crushed
-Altcoin ecosystems growing faster
-Validator income more predictable than mining
Reality check: These are small miners (19 BTC holdings) making desperate moves for relevance.
But: Market clearly loves the pivot narrative. Solana ecosystem growth story resonating.
Bottom line: When Bitcoin miners start buying altcoins instead of mining, that's a strong ecosystem signal.
#BITMINING #Solana #CorporatePivot
Another Bitcoin miner just said "screw this" and pivoted to altcoins...
Bit Mining announces $300M Solana treasury plan
Stock went from $2 to $11 in pre-market (now $6.29)
Plans to convert BTC holdings to SOL
Becoming Solana validator too
This pivot trend is getting wild
*The Solana pivot plan
What they're doing:
-Raising $200-300M for SOL treasury
-Converting existing crypto to SOL
-Running validator nodes on Solana
-Long-term holding strategy
Current holdings: Only 19 BTC (~$2M) so not much to convert
CEO quote: "Most dynamic and promising ecosystem in blockchain space"
*Market reaction insane
Stock movement:
-Wednesday close: $2.00
-Pre-market high: $11.00 (+350%)
-Current: $6.29 (still +215%)
Why the pump? Market loves the Solana narrative right now.
17th largest Bitcoin miner by market cap just ditched Bitcoin for SOL.
*Following Bit Digital's playbook
Similar move last month:
-Bit Digital pivoted to Ethereum staking
-Initially dropped 15% to $1.99
-Then surged 80% to $3.59
Pattern: Bitcoin mining ā altcoin treasury = stock pump
Investors betting on ecosystem growth over mining margins.
*My take
This is fascinating. Bitcoin miners are basically giving up on their core business.
Why the pivots?
-Mining margins getting crushed
-Altcoin ecosystems growing faster
-Validator income more predictable than mining
Reality check: These are small miners (19 BTC holdings) making desperate moves for relevance.
But: Market clearly loves the pivot narrative. Solana ecosystem growth story resonating.
Bottom line: When Bitcoin miners start buying altcoins instead of mining, that's a strong ecosystem signal.
#BITMINING #Solana #CorporatePivot
š¢ BIT Mining Expands SOL Holdings!
BIT Mining Limited has announced an additional purchase of 17,221 SOL, further boosting its reserves to over 44,000 SOL. š
With the reserves now valued at nearly $9.95 million, the company is signaling strong confidence in Solanaās long-term growth and utility in the blockchain ecosystem. š
š Key Takeaway: Strategic accumulation of SOL by major players highlights increasing institutional interest in Solana.
DYOR No Financial advice!
Ā #SOL #CryptoNews #BITMining #AltcoinMarketRecovery #CryptoRally
$SOL
BIT Mining Limited has announced an additional purchase of 17,221 SOL, further boosting its reserves to over 44,000 SOL. š
With the reserves now valued at nearly $9.95 million, the company is signaling strong confidence in Solanaās long-term growth and utility in the blockchain ecosystem. š
š Key Takeaway: Strategic accumulation of SOL by major players highlights increasing institutional interest in Solana.
DYOR No Financial advice!
Ā #SOL #CryptoNews #BITMining #AltcoinMarketRecovery #CryptoRally
$SOL
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Solana gains momentum as crypto markets stabilize
BIT Mining expands its holdings in Solana
In a strategic approach, BIT #Mining has significantly increased its holdings by $SOL 40%, highlighting a growing confidence in the potential of the cryptocurrency market. This decision reflects a general trend among institutional investors who are diversifying their portfolios with promising altcoins. Solana, known for its high throughput and reduced transaction fees, presents an attractive option for cloud mining and staking operations. By strengthening its position in #Solana , BIT Mining seems to align with the growing interest in cryptocurrencies that offer solid use cases and increasing adoption.
In a strategic approach, BIT #Mining has significantly increased its holdings by $SOL 40%, highlighting a growing confidence in the potential of the cryptocurrency market. This decision reflects a general trend among institutional investors who are diversifying their portfolios with promising altcoins. Solana, known for its high throughput and reduced transaction fees, presents an attractive option for cloud mining and staking operations. By strengthening its position in #Solana , BIT Mining seems to align with the growing interest in cryptocurrencies that offer solid use cases and increasing adoption.
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BIT Mining Reuses Bitcoin Miners Thanks to Record Low Energy Costs in Ethiopia
Opportunities from Cheap Electricity Costs in Ethiopia
BIT Mining has invested $14 million to expand its operations in Ethiopia, including 51 MW of power and nearly 18,000 Bitcoin mining machines. This is an important step in the strategy of reusing old mining machines, which are no longer effective in the US due to high electricity costs.
According to Dr. Youwei Yang, chief economist of BIT Mining, electricity costs in Ohio are 70% or more higher, causing older mining machines to quickly become obsolete. Meanwhile, moving these machines to Ethiopia can extend their lifespan by 2 years, optimizing profits.
BIT Mining has invested $14 million to expand its operations in Ethiopia, including 51 MW of power and nearly 18,000 Bitcoin mining machines. This is an important step in the strategy of reusing old mining machines, which are no longer effective in the US due to high electricity costs.
According to Dr. Youwei Yang, chief economist of BIT Mining, electricity costs in Ohio are 70% or more higher, causing older mining machines to quickly become obsolete. Meanwhile, moving these machines to Ethiopia can extend their lifespan by 2 years, optimizing profits.
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BIT Mining's stock skyrockets after announcing $300 million plan to transition to Solana
Shares of Bitcoin mining company BIT Mining have surged over 140% after announcing plans to raise $200-300 million to build a Solana (SOL) treasury and convert its current holdings to $SOL .
Conversion strategy and reasons
BIT Mining, which has focused on Bitcoin and other tokens, will pivot to Solana. CEO Xianfeng Yang stated that this is a "bold move into one of the most dynamic and promising ecosystems in the blockchain space." This move comes as mining companies face numerous challenges such as reduced rewards and increased mining difficulty.
SOL is the sixth-largest cryptocurrency with a market capitalization of $83.9 billion. Developers favor the Solana blockchain for its speed and efficiency compared to $ETH , utilizing this network for various projects from exchanges, memecoins to gaming.
The decision of #BITMINING reflects the growing trend of companies both inside and outside the crypto space purchasing Bitcoin and other digital assets to generate better returns for shareholders. Major companies like Strategy (formerly MicroStrategy) and Metaplanet have pioneered the accumulation of Bitcoin into corporate treasuries.
Shares of Bitcoin mining company BIT Mining have surged over 140% after announcing plans to raise $200-300 million to build a Solana (SOL) treasury and convert its current holdings to $SOL .
Conversion strategy and reasons
BIT Mining, which has focused on Bitcoin and other tokens, will pivot to Solana. CEO Xianfeng Yang stated that this is a "bold move into one of the most dynamic and promising ecosystems in the blockchain space." This move comes as mining companies face numerous challenges such as reduced rewards and increased mining difficulty.
SOL is the sixth-largest cryptocurrency with a market capitalization of $83.9 billion. Developers favor the Solana blockchain for its speed and efficiency compared to $ETH , utilizing this network for various projects from exchanges, memecoins to gaming.
The decision of #BITMINING reflects the growing trend of companies both inside and outside the crypto space purchasing Bitcoin and other digital assets to generate better returns for shareholders. Major companies like Strategy (formerly MicroStrategy) and Metaplanet have pioneered the accumulation of Bitcoin into corporate treasuries.
BitMine Amasses $3 Billion Ethereum Treasury in Bold New Strategy
Key Takeaways:
BitMine has acquiredĀ 833,000 ETH ($3.03B)Ā in just 35 days
Aims to controlĀ 5% of ETH's circulating supplyĀ (~6M ETH)
Strategy led by Fundstrat'sĀ Tom Lee, now BitMine Chairman
Company combinesĀ mining proceeds + capital raisesĀ to fund purchases
BitMine's Aggressive Ethereum Accumulation
Crypto investment firmĀ BitMineĀ has executed one of the most aggressive treasury strategies in digital asset history, accumulating:
š°Ā 833,000 ETHĀ (worth $3.03B)
ā±Ā From zero to $3B in just 35 days
šÆĀ Targeting 5% of all circulating ETHĀ (6M coins)
"We've achieved the 'alchemy of 5%' velocity unmatched in crypto treasuries,"Ā saidĀ Tom Lee, BitMine Chairman and Fundstrat co-founder.
The Strategy Behind the Move
BitMine operates as aĀ Bitcoin/Ethereum network companyĀ with a unique model:
1ļøā£Ā Mining Operations
Facilities inĀ Texas (Pecos/Silverton)Ā andĀ Trinidad
BTC mining profits help fund ETH purchases
2ļøā£Ā Capital Raises
Public company status enables stock offerings
Focus onĀ high liquidity shares
"We're separating ourselves by both speed of accumulation and shareholder value creation,"Ā Lee noted.
Market Impact & ETH Price Action
The massive accumulation comes as:
šĀ ETH price: $3,641 (+4.02% in 24hrs)
šĀ Circulating supply: ~120.7M ETH
š¦Ā Comparable treasuries: No other entity holds this much ETH
Analysts suggest this could:
ā Create new ETH demand pressure
ā Validate institutional accumulation strategies
ā Potentially reduce liquid supply
What's Next?
All eyes will be on whether BitMine can:
š¹ Hit itsĀ 6M ETH target
š¹ MaintainĀ purchase velocity
š¹ InfluenceĀ ETH's market dynamics
Posted: August 4, 2025 | Source: The Daily Hodl
Why This Matters:
This marks one of the most significantĀ institutional ETH accumulation playsĀ to date, potentially creating a new model for crypto treasury strategies. The sheer scale could have lasting impacts on ETH's market structure.
#ETH #Mining #btcmining #tresurefun #BITMINING
Key Takeaways:
BitMine has acquiredĀ 833,000 ETH ($3.03B)Ā in just 35 days
Aims to controlĀ 5% of ETH's circulating supplyĀ (~6M ETH)
Strategy led by Fundstrat'sĀ Tom Lee, now BitMine Chairman
Company combinesĀ mining proceeds + capital raisesĀ to fund purchases
BitMine's Aggressive Ethereum Accumulation
Crypto investment firmĀ BitMineĀ has executed one of the most aggressive treasury strategies in digital asset history, accumulating:
š°Ā 833,000 ETHĀ (worth $3.03B)
ā±Ā From zero to $3B in just 35 days
šÆĀ Targeting 5% of all circulating ETHĀ (6M coins)
"We've achieved the 'alchemy of 5%' velocity unmatched in crypto treasuries,"Ā saidĀ Tom Lee, BitMine Chairman and Fundstrat co-founder.
The Strategy Behind the Move
BitMine operates as aĀ Bitcoin/Ethereum network companyĀ with a unique model:
1ļøā£Ā Mining Operations
Facilities inĀ Texas (Pecos/Silverton)Ā andĀ Trinidad
BTC mining profits help fund ETH purchases
2ļøā£Ā Capital Raises
Public company status enables stock offerings
Focus onĀ high liquidity shares
"We're separating ourselves by both speed of accumulation and shareholder value creation,"Ā Lee noted.
Market Impact & ETH Price Action
The massive accumulation comes as:
šĀ ETH price: $3,641 (+4.02% in 24hrs)
šĀ Circulating supply: ~120.7M ETH
š¦Ā Comparable treasuries: No other entity holds this much ETH
Analysts suggest this could:
ā Create new ETH demand pressure
ā Validate institutional accumulation strategies
ā Potentially reduce liquid supply
What's Next?
All eyes will be on whether BitMine can:
š¹ Hit itsĀ 6M ETH target
š¹ MaintainĀ purchase velocity
š¹ InfluenceĀ ETH's market dynamics
Posted: August 4, 2025 | Source: The Daily Hodl
Why This Matters:
This marks one of the most significantĀ institutional ETH accumulation playsĀ to date, potentially creating a new model for crypto treasury strategies. The sheer scale could have lasting impacts on ETH's market structure.
#ETH #Mining #btcmining #tresurefun #BITMINING
š Ethereum Reset at $60,000? Bitmineās Bold Valuation Sparks Shockwaves Across Crypto World! šš°
Ethereum ā the second-largest cryptocurrency by market cap ā may be worth far more than current market prices suggest. According to a stunning report released by Bitmine, a prominent crypto mining and blockchain infrastructure company, Ethereumās "reset value" has been estimated at a jaw-dropping $60,000. š¤Æ
This announcement has sent ripples across the entire crypto ecosystem, as traders, investors, and analysts scramble to decode what this figure could mean for Ethereum's future.
---
š What is a āReset Valueā?
The term āreset valueā refers to the fundamental long-term valuation of an asset based on its intrinsic utility, adoption, treasury strength, and future potential ā not just its current trading price. In Wall Street language, itās like calculating a companyās fair market value rather than focusing on short-term volatility.
Bitmine has collaborated with multiple research institutions to conduct this detailed valuation. The goal? To establish what Ethereum should be worth if the market werenāt driven by fear, speculation, and temporary sentiment.
---
š§ How Did They Reach $60,000?
According to Bitmineās internal breakdown and third-party evaluations, several key components contributed to this high reset value:
1. Ethereumās Treasury Reserves: With vast on-chain reserves and protocol-level value locked, Ethereumās financial backbone is rock solid.
2. Utility & Network Effect: Ethereum powers the largest ecosystem of decentralized applications (dApps), NFTs, DeFi, and Layer 2 scaling solutions ā giving it unmatched long-term potential.
3. Staking Economy: With ETH 2.0 staking in full swing, Ethereumās transition to Proof-of-Stake has created a more deflationary and efficient network model.
4. Institutional Adoption: Wall Street giants and sovereign wealth funds are steadily accumulating ETH, treating it as a digital commodity and smart contract platform of the future.
5. Layer-2 Expansion & Gas Efficiency: Technologies like Optimism, Arbitrum, and zkSync have made the Ethereum network faster and cheaper, directly boosting its scalability and real-world use cases.
Bitmineās analysts believe these factors, when adjusted for future cash flow modeling and usage metrics, justify a reset value of $60,000 per ETH token.
---
š¬ Market Reactions: Mixed but Curious
The $60K valuation has sparked serious debates online. Some crypto veterans see this as a bullish revelation, while others argue itās speculative hype ahead of a potential Ethereum ETF approval.
However, whatās undeniable is that this report has reignited excitement around Ethereumās long-term investment thesis.
---
š® What Could Trigger a Move Toward $60K?
Here are a few catalysts that could potentially move Ethereum closer to this lofty valuation:
ā Approval of a Spot Ethereum ETF by U.S. regulators
ā Mass migration of TradFi institutions to Ethereumās DeFi platforms
ā Continued supply reduction due to EIP-1559 and staking lockups
ā Major real-world integration of Ethereum in payments, identity, and gaming sectors
ā Full-scale global adoption of tokenized assets and smart contracts
---
š Current Price vs. Reset Value: Is ETH Undervalued?
With ETH trading far below the $60,000 mark, Bitmineās analysis paints a compelling picture of undervaluation. The āreset valueā concept encourages long-term holders to see beyond daily charts and focus on Ethereumās role in the future of the digital economy.
If Bitmineās estimate proves accurate over time, todayās ETH prices may be seen as the crypto buying opportunity of the decade.
---
š§ Final Thought:
Ethereum at $60,000 isnāt just a number ā itās a vision of what cryptoās most powerful smart contract platform can become in a world transitioning to decentralized finance, AI-driven automation, and on-chain trust.
Whether you're a retail investor, institutional whale, or crypto skeptic ā one thingās clear: Ethereumās journey is far from over.
Are you prepared for the reset?
#Ethereum
#CryptoValuation
#BITMINING
#BlockchainFuture $ETH
This announcement has sent ripples across the entire crypto ecosystem, as traders, investors, and analysts scramble to decode what this figure could mean for Ethereum's future.
---
š What is a āReset Valueā?
The term āreset valueā refers to the fundamental long-term valuation of an asset based on its intrinsic utility, adoption, treasury strength, and future potential ā not just its current trading price. In Wall Street language, itās like calculating a companyās fair market value rather than focusing on short-term volatility.
Bitmine has collaborated with multiple research institutions to conduct this detailed valuation. The goal? To establish what Ethereum should be worth if the market werenāt driven by fear, speculation, and temporary sentiment.
---
š§ How Did They Reach $60,000?
According to Bitmineās internal breakdown and third-party evaluations, several key components contributed to this high reset value:
1. Ethereumās Treasury Reserves: With vast on-chain reserves and protocol-level value locked, Ethereumās financial backbone is rock solid.
2. Utility & Network Effect: Ethereum powers the largest ecosystem of decentralized applications (dApps), NFTs, DeFi, and Layer 2 scaling solutions ā giving it unmatched long-term potential.
3. Staking Economy: With ETH 2.0 staking in full swing, Ethereumās transition to Proof-of-Stake has created a more deflationary and efficient network model.
4. Institutional Adoption: Wall Street giants and sovereign wealth funds are steadily accumulating ETH, treating it as a digital commodity and smart contract platform of the future.
5. Layer-2 Expansion & Gas Efficiency: Technologies like Optimism, Arbitrum, and zkSync have made the Ethereum network faster and cheaper, directly boosting its scalability and real-world use cases.
Bitmineās analysts believe these factors, when adjusted for future cash flow modeling and usage metrics, justify a reset value of $60,000 per ETH token.
---
š¬ Market Reactions: Mixed but Curious
The $60K valuation has sparked serious debates online. Some crypto veterans see this as a bullish revelation, while others argue itās speculative hype ahead of a potential Ethereum ETF approval.
However, whatās undeniable is that this report has reignited excitement around Ethereumās long-term investment thesis.
---
š® What Could Trigger a Move Toward $60K?
Here are a few catalysts that could potentially move Ethereum closer to this lofty valuation:
ā Approval of a Spot Ethereum ETF by U.S. regulators
ā Mass migration of TradFi institutions to Ethereumās DeFi platforms
ā Continued supply reduction due to EIP-1559 and staking lockups
ā Major real-world integration of Ethereum in payments, identity, and gaming sectors
ā Full-scale global adoption of tokenized assets and smart contracts
---
š Current Price vs. Reset Value: Is ETH Undervalued?
With ETH trading far below the $60,000 mark, Bitmineās analysis paints a compelling picture of undervaluation. The āreset valueā concept encourages long-term holders to see beyond daily charts and focus on Ethereumās role in the future of the digital economy.
If Bitmineās estimate proves accurate over time, todayās ETH prices may be seen as the crypto buying opportunity of the decade.
---
š§ Final Thought:
Ethereum at $60,000 isnāt just a number ā itās a vision of what cryptoās most powerful smart contract platform can become in a world transitioning to decentralized finance, AI-driven automation, and on-chain trust.
Whether you're a retail investor, institutional whale, or crypto skeptic ā one thingās clear: Ethereumās journey is far from over.
Are you prepared for the reset?
#Ethereum
#CryptoValuation
#BITMINING
#BlockchainFuture $ETH
#BITMINING
Chinese Bitcoin mining hardware firm under investigation in US.
Bitmain Technologies, a Beijing-based crypto mining rig firm, is under investigation over potential surveillance in the U.S.
Despite a pro-crypto regulatory shift in the U.S., a mining hardware provider has found itself under investigation for national security risks. On Friday, November 21, reports came out that U.S. Federal agencies are investigating Bitmain Technologies over concerns of potential espionage.
Namely, the Department of Homeland Security, the Senate Intelligence Committee, and other agencies are investigating whether Bitmainās ASIC devices have undisclosed capabilities that could allow remote access, data leakage, or sabotage.
Reportedly, U.S. officials became concerned about the clusters of Bitmain Bitcoin (BTC) mining machines operating near sensitive infrastructure. This includes power grids, military bases, energy facilities and other crucial infrastructure.
You might also like:
China says the U.S. stole LuBianās 127,000 Bitcoin ā who does the stash actually belong to?
Bitmain devices seized at ports, torn apart
In July, a report from the Senate Intelligence Committee stated that Bitmain devices could be manipulated from China. The report also mentioned āseveral disturbing vulnerabilitiesā that these devices pose to the U.S.
Bitmain was also a target of āOperation Red Sunset,ā a federal investigation to determine whether its machines could be controlled for spying or sabotage. The devices were also seized at U.S. ports and pulled apart to test them for malicious capabilities. Still, investigators would not say whether anything was found.
Bitmain said itās āunequivocally falseā that it can remotely control its devices from China. They also claim they are not aware of any investigation, including āOperation Red Sunset.
Chinese Bitcoin mining hardware firm under investigation in US.
Bitmain Technologies, a Beijing-based crypto mining rig firm, is under investigation over potential surveillance in the U.S.
Despite a pro-crypto regulatory shift in the U.S., a mining hardware provider has found itself under investigation for national security risks. On Friday, November 21, reports came out that U.S. Federal agencies are investigating Bitmain Technologies over concerns of potential espionage.
Namely, the Department of Homeland Security, the Senate Intelligence Committee, and other agencies are investigating whether Bitmainās ASIC devices have undisclosed capabilities that could allow remote access, data leakage, or sabotage.
Reportedly, U.S. officials became concerned about the clusters of Bitmain Bitcoin (BTC) mining machines operating near sensitive infrastructure. This includes power grids, military bases, energy facilities and other crucial infrastructure.
You might also like:
China says the U.S. stole LuBianās 127,000 Bitcoin ā who does the stash actually belong to?
Bitmain devices seized at ports, torn apart
In July, a report from the Senate Intelligence Committee stated that Bitmain devices could be manipulated from China. The report also mentioned āseveral disturbing vulnerabilitiesā that these devices pose to the U.S.
Bitmain was also a target of āOperation Red Sunset,ā a federal investigation to determine whether its machines could be controlled for spying or sabotage. The devices were also seized at U.S. ports and pulled apart to test them for malicious capabilities. Still, investigators would not say whether anything was found.
Bitmain said itās āunequivocally falseā that it can remotely control its devices from China. They also claim they are not aware of any investigation, including āOperation Red Sunset.
#bitmining
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Crypto miner BIT Mining pivots to Solana with plan to raise up to $300 million for SOL treasury
BIT Mining is diversifying its crypto mining operations with a plan to raise between $200 million and $300 million to accumulate SOL.
It is the latest in a plethora of firms launching crypto treasury initiatives, including two other bitcoin miners-turned-Ethereum acquisition companies.
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Crypto miner BIT Mining pivots to Solana with plan to raise up to $300 million for SOL treasury
BIT Mining is diversifying its crypto mining operations with a plan to raise between $200 million and $300 million to accumulate SOL.
It is the latest in a plethora of firms launching crypto treasury initiatives, including two other bitcoin miners-turned-Ethereum acquisition companies.
$SOL Treasury Race Accelerates as Three Firms Chase Staking Rewards
Three public companies expanded their holdings this week, signaling growing corporate interest in Solana's staking rewards.
šBitMining purchased 27,191 = $SOL for $4.5 million in its first Solana buy and launched a validator to earn staking yields.
šUpexi dramatically increased holdings from 735,692 tokens in June to over 2 million $SOL , earning $65,000 daily through 8% staking rewards.
šDeFi Development Corp boosted its holdings to 1.2 million after purchasing another 110,466 tokens.
š The top four Solana-holding companies now control over 3.5 million tokens worth $591.1 million, representing 0.65% of circulating supply.BitGo suggests firms are choosing = Solana over BTC to access reward-generating assets and differentiate their #treasury strategies.
š Bit Mining plans to raise $300 million for further Solana ecosystem expansion beyond its initial validator operations.
š DeFi Development will stake its holdings with various validators after being acquired by former Kraken executives.
š Upexi CEO Allan Marshall called July "game-changing" after raising over $200 million for additional Solana purchases.
š The trend reflects companies seeking alternatives to $BTC while gaining exposure to emerging blockchain infrastructure.#SolanaStrong #stakingrewards #BITMINING #UpexiTreasury #defi
Three public companies expanded their holdings this week, signaling growing corporate interest in Solana's staking rewards.
šBitMining purchased 27,191 = $SOL for $4.5 million in its first Solana buy and launched a validator to earn staking yields.
šUpexi dramatically increased holdings from 735,692 tokens in June to over 2 million $SOL , earning $65,000 daily through 8% staking rewards.
šDeFi Development Corp boosted its holdings to 1.2 million after purchasing another 110,466 tokens.
š The top four Solana-holding companies now control over 3.5 million tokens worth $591.1 million, representing 0.65% of circulating supply.BitGo suggests firms are choosing = Solana over BTC to access reward-generating assets and differentiate their #treasury strategies.
š Bit Mining plans to raise $300 million for further Solana ecosystem expansion beyond its initial validator operations.
š DeFi Development will stake its holdings with various validators after being acquired by former Kraken executives.
š Upexi CEO Allan Marshall called July "game-changing" after raising over $200 million for additional Solana purchases.
š The trend reflects companies seeking alternatives to $BTC while gaining exposure to emerging blockchain infrastructure.#SolanaStrong #stakingrewards #BITMINING #UpexiTreasury #defi
š BIT Mining Adds 17,221 SOL to Treasury, Now Holds ~44,412 SOL
BIT Mining Limited (NYSE: BTCM), soon to be renamed SOLAI Limited, has acquired an additional 17,221 SOL, bringing its total Solana holdings to over 44,412 SOL (~$9.95M as of Sept 10).
š¬ āWe continue to see value in growing our presence in the Solana ecosystem,ā said Bo Yu, Chairman & COO. The company operates validators on-chain and is launching DOLAI, a USD-denominated stablecoin in collaboration with Brale Inc., to strengthen its ecosystem strategy.
This move underscores BIT Miningās shift from crypto mining toward a strategic Solana-based infrastructure model, combining treasury accumulation with validator operations and expanding into stablecoin issuance. The rebrand to SOLAI Limited reflects this broader focus.
#BITMining #SOLAI #Solana #CryptoNews
š Like and follow for more updates on Solana ecosystem players and crypto treasury developments.
BIT Mining Limited (NYSE: BTCM), soon to be renamed SOLAI Limited, has acquired an additional 17,221 SOL, bringing its total Solana holdings to over 44,412 SOL (~$9.95M as of Sept 10).
š¬ āWe continue to see value in growing our presence in the Solana ecosystem,ā said Bo Yu, Chairman & COO. The company operates validators on-chain and is launching DOLAI, a USD-denominated stablecoin in collaboration with Brale Inc., to strengthen its ecosystem strategy.
This move underscores BIT Miningās shift from crypto mining toward a strategic Solana-based infrastructure model, combining treasury accumulation with validator operations and expanding into stablecoin issuance. The rebrand to SOLAI Limited reflects this broader focus.
#BITMining #SOLAI #Solana #CryptoNews
š Like and follow for more updates on Solana ecosystem players and crypto treasury developments.
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