Overview

• BIT Mining will convert its existing crypto assets—including 19 BTC valued at about $2.1 million—into SOL tokens.
• The company plans to raise between $200 million and $300 million to fund its Solana token purchases.
• Shares of the NYSE-listed miner jumped as much as 350% in pre-market trading and were roughly 250% higher by midday.
• In December, BIT Mining reported that its Litecoin and Dogecoin operations generated triple the profits of its bitcoin mining.
• Peer miner Bit Digital has moved its entire treasury into ETH for staking, underscoring a wider shift by mining firms into altcoin holdings.