Bit Mining Don Show $300M Solana Pivote Into SOL Staking, DeFi
Bit Mining jun move reach Solana don redirect $300 million from Bitcoin mining go Solana ecosystem work dem. Di miner wey dey listed for Nasdaq and Hong Kong, plus still dey do Dogecoin too, plan to expand GPU-based SOL mining setup by Q4 and also stake up to 150 million SOL for about 6% yield. Dem go also put money for Solana DEX liquidity and support early-stage DeFi and NFT projects. Management talk say na regulatory pressure and rising energy cost for BTC mining make dem change. Di announcement make BIT Mining shares jump 18%, as analysts talk say the move go boost profit, protect from Bitcoin wahala, and use Solana’s scalability and low fees.
Bullish
Di news dey bullish for SOL. For short time, di $300 million allocation plus better staking yields fit make traders dey buy sharp sharp as dem go lock SOL to collect reward. Di 18% stock rise show say market get strong confidence. For long term, funding GPU mining, DeFi and NFT projects for Solana go boost network activity, transaction fees plus token utility. Lock 150 million SOL for staking also go reduce di supply wey dey circulate. All dis one together go make demand strong and support price to dey go up.