BIT Mining Limited is actively increasing its holdings in the Solana ecosystem, announcing the purchase of an additional 17,221 SOL. This expansion highlights the company's strategic approach to development on this platform.
Increase in SOL Holdings
The company has managed to increase its Solana holdings to 44,000 SOL, currently valued at approximately $9.95 million. According to Chairman and COO Bo Yu, the company sees immense value in deepening its role within the Solana network. 'Adding these additional resources to our treasury will strengthen our position in the ecosystem, and we will continue to operate our validators to help strengthen and secure the network,' Yu stated.
Launch of Stablecoin DOLAI
BIT Mining also announced the launch of DOLAI, a stablecoin pegged to the US dollar and built on the Solana platform. This stablecoin aims to connect AI agents, merchants, consumers, and institutional finance, leveraging Solana’s fast network.
Prospects for Solana and BTCM
Additionally, BIT Mining plans to expand DOLAI into a multi-chain framework and is collaborating with Brale Inc. to ensure compliance with strict standards. Market analysts are increasingly optimistic about Solana's future. Matt Hougan, CIO of Bitwise, stated, 'All the ingredients are there for an epic end-of-year run for Solana.' He compared Solana's potential to Bitcoin's dramatic rise and Ethereum's surge earlier this year. As of the writing, Solana (SOL) is priced at $226.42, reflecting a 1.38% increase over the last 24 hours.
BIT Mining's expansion in the Solana ecosystem demonstrates confidence in the growth of this platform. Rising corporate treasuries and ETF inflows could contribute to a successful end of the year for Solana.
