Bit Mining, the largest ETH holder, buys $5M in Solana and launches validator as it expands its crypto treasury beyond Ethereum. | Credit: Getty Images.
* Bit Mining makes its first Solana purchase after outlining a Solana strategy in July.
* The company, best known for its massive ETH holdings, has set up its first Solana validator node.
* Bit Mining plans to raise $300 million to build its Solana treasury and infrastructure.
Bit Mining, the crypto infrastructure firm with the largest corporate Ethereum treasury — over $2 billion worth — is officially adding Solana (SOL) to the mix.
After ditching Bitcoin for Ethereum earlier this year, the company has now taken its first concrete step into the Solana ecosystem by purchasing SOL and spinning up a validator.
From ETH Whale to Solana Validator
In an exclusive announcement shared with CCN, Bit Mining revealed it had bought 27,191 SOL worth roughly $5 million and launched its first Solana validator node.
Bo Yu, the firm’s Chairman and COO, called the move a “foundational step” in bringing its Solana strategy to life.
“We’re not just holding SOL — we’re helping power the network,” said Yu. “It demonstrates our belief in Solana’s potential and our commitment to building meaningful infrastructure.”
The validator will be operated in-house by Bit Mining’s infrastructure team using proprietary tools.
The company also plans to stake its own SOL through this validator as part of its long-term play.
This move comes just weeks after Bit Mining shared plans to raise $300 million for Solana acquisitions and infrastructure efforts, marking a major pivot for the ETH-heavy company.
Altcoins Enter the Corporate Treasury Game
Up until recently, Bitcoin (BTC) was the only serious player in the corporate treasury space.
Strategy’s (formerly MicroStrategy) BTC playbook became a blueprint for over 100 public companies.
But in 2025, Ethereum broke through. With growing institutional appetite and Donald Trump’s push for broader crypto reserves — not just Bitcoin — ETH has emerged as the next big treasury asset.
Now, Bit Mining is signaling that Solana could be next.
The same trend is visible in ETFs. After Bitcoin and Ethereum ETFs were approved, applications followed for Solana, XRP, TRUMP, and even memecoins like Pengu.
Bit Mining’s $5 million SOL bet could be the first of many. If this trend catches on, more public companies may start diversifying beyond BTC and ETH into altcoins, despite the volatility.
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