Update, 11 July 9:10 UTC: This article has been updated to add comments from the main economist of BIT YouWei Wang extraction.

Bitcoin Mining Bit Mining makes a strategic change in the Solana ecosystem, with plans to collect up to $ 300 million to support this movement.

Business he said On Thursday, he plans to raise between $ 200 to $ 300 million in different stages to build a immense Solan treasure (SOL).

The capital will also be used to expand its possibilities on the web and get more tokens. As part of the Bit Mining plan, he said that he would convert some of the existing cryptographic resources in SOL and adopt a long -term maintenance strategy. He did not determine how many reserves his reserves would be initially converted.

Bitcointreasuries.net can be seen This bit extraction contains 19 bitcoins (BTC), worth about $ 2 million at current prices.

Although the company did not provide details, the chief mining economist, YouWei Wang, said Cointelegraph that it would convert the “majority” of its existing cryptocurrencies in Sol.

“In the case of future new crypto generated from mining activities, we will gradually transform them into SOL after paying electricity bills,” said Wang Cointelegraph.

Bit Mining Surgy 350% in terms of trade in front of the brand

The bit mining stock prices increased to $ 11 in trade in front of the brand after the announcement, which is an enhance in 350% compared to Wednesday’s closing $ 2, According to to Yahoo Finance. At the time of writing, the share price went back to USD 6.29.

The company stated that it is planning to launch the Walidator nodes for salt to support decentralization and network security.

Bit Mining said that this allows further integration in the Solana ecosystem and create a sustainable value by participating in blockchain.

CEO of BIT Mining, Xianfeng Yang, said that Movement shows their commitment and adaptation in the “constantly evolving industry”. The manager expressed confidence in his vision and the ability to provide values for his shareholders.

“We are glad that we can take this bold step in what we think is one of the most dynamic and promising ecosystems in the blockchain space,” said Yang.

Data on the market capital of the company can be seen This bit extraction is currently 17 regarding the size of Bitcoin miner in the world by market capitalization.

Related: Letsbon is ahead of the pump. Fun: Will Solana Memecoins come back for good?

Bit Digital Pivots in the Ethereum strategy

Pivot Bit Mining for the Altcoin ecosystem is in line with a similar movement from another Bitcoin mining company.

On June 26, Bit Digital announced that he would abandon the Bitcoins mining and will go on a strategy focused on Ethereum. The company said that it would become “pure art of Ethereum Staking and Treasury Treasury Company.”

Unlike bit extraction, digital bit bites initially dropped to USD 1.99 from USD 2.35 after announcement, falling 15% on June 27. However, the actions finally recovered, High According to Google Finance data, up to USD 3.59, which is an enhance in 80%.

Asked if more companies can follow this trend of building Treasuries based in Altcoin, Wang told Cointelegraph that more companies in half for petite capitalization may want to diversify Beyond Bitcoin.

The manager said that this can happen not because they do not believe in bitcoin, but because Bitcoin State Treasury requires greater capital to be a competitive and legal player.

https://www.youtube.com/watch?v=bwzodbdbiUw

Warehouse: Memecoins are ded – but Solana “100x better” despite the decrease in revenues