Chinese Bitcoin Miner Prepares to Invest Largely in This Altcoin! “We Will Sell All Our Cryptocurrencies and Buy This Altcoin!”

While treasury strategy plans have been on the rise recently for Bitcoin (BTC), Ethereum (ETH), and altcoins, the latest move comes for Solana (SOL).

At this point, BIT Mining announced that it would raise up to $300 million for the Solana treasury.

Chinese Company Makes Move to Solana (SOL)!

According to the official statement, Chinese Bitcoin miner BIT Mining (BTCM) announced a strategic move to expand into the Solana (SOL) ecosystem through its official website.

The company added that it plans to raise between $200 million and $300 million to build the SOL treasury.

“As part of our strategic transformation, we will grow Solana assets.

Considering market conditions and available capital, we plan to raise funds from a minimum of $200 million to a maximum of $300 million.

The newly raised funds will be used to purchase Solana tokens.

BIT Mining also stated that it plans to convert its existing cryptocurrency holdings to Solana.

“We will adopt a long-term holding strategy for Solana. We aim to increase participation in the Solana ecosystem and generate on-chain staking rewards,” the company said.

The company stated that it aims to support the Solana network by utilizing its infrastructure and expertise and strengthen its reserves with ongoing SOL token purchases.

*This is not investment advice.

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