Nasdaq-Genten Bit Mining has taken its first real step in the Solana ecosystem, bought millions in Sol and launches its first Validator node.
Summary
- Bit Mining has bought 27,191 Sol, worth $ 4.89 million.
- The company launched an internal Solana validator as part of its long-term strategy.
- Public companies now have an estimated 3.4 million SOL, which indicates a growing institutional interest.
On August 5, the company announced That it acquired 27.191 Solana (SOL), with a value of approximately $ 4.89 million. The purchase comes less than a month after Bit-Mijnbouw has unveiled plans to fully switch to a treasury focused on Solana and to collect $ 300 million to finance its long-term statement.
Bit Mining also revealed that it will liquidate all existing crypto companies, such as Bitcoin (BTC), Litecoin (LTC) and Dogecoin (Doge) Holdings to go all-in Sol, gradually build its position based on available capital.
But instead of just keeping Sol on his balance sheets, the NYSE-GENTED company wants to put the assets to work.
Bit mining’s dual bet on sol
In addition to the purchase, Bit Mining announced the launch of his first self-processed Solana-Validator. With the help of an internal team, the company starts its SOL Holdings.
Although it did not reveal what his goals are, the company said that this step is to participate directly in the consensus process of Solana and at the same time earn rewards on the chain. Bit Mining chairman and COO Bo Yu described the launch of the validator as a step in ‘operationalizing’ of the Solana strategy.
“This validator launch is a fundamental step in operationalizing our Solana strategy. We not just keep SOL, we help the network to provide power,” he said.
The bet of Bit Mining on Solana does not happen separately and comes in the midst of a broader trend of companies that actively store it.
Solana on balance sheets
In addition to bitwinning, a number of other companies also gamble on Sol as a Treasury activum. Among them is the Nasdaq-raised Defi Development Corp., which recently raised its participations to 999,999 Sol after the last purchase of July 21.
Another is Upexi, a listed company for consumer products. Upexi is currently Sol’s largest company holder, with more than 1.8 million tokens in his portfolio.
Treasuries with Solana are now an estimated collective 3.4 million Sol, worth around $ 568 million at current prices, according to current prices, according to facts from the block.
In the meantime, Bitcoin and Ethereum (ETH) remain the most detained Treasury assets. According to Coingecko factsPublic companies jointly have an estimated 927,376 BTC, worth around $ 105.8 billion. Ethereum Holdings are currently around 1.75 million ETH, with a value of $ 6.3 billion.
