BIT Mining Limited (BTCM) is making a big move in the Solana ecosystem by increasing its investment in the cryptocurrency. The company recently bought an additional 17,221 SOL tokens, pushing its total Solana holdings to 44,000 SOL. At today’s market rate, that’s worth nearly $9.95 million.

Bo Yu, Chairman and COO of BIT Mining, said the company sees strong potential in Solana and wants to play a bigger role in its growing blockchain network. He added that adding more SOL to their treasury helps strengthen their presence and support the network by running validator nodes that help keep Solana secure and efficient.

BIT Mining also announced that it’s exploring new ways to grow within the Solana ecosystem. The company plans to combine its validator operations with its growing crypto holdings to gain both financial returns and strategic advantages.

On top of that, BIT Mining recently launched a new stablecoin called DOLAI. It’s tied to the U.S. dollar and built on the Solana blockchain. DOLAI is designed to connect AI systems, online merchants, customers, and large financial institutions, all while using Solana’s fast and low-cost transaction network.

Looking ahead, BIT Mining plans to expand DOLAI beyond just the Solana blockchain. They are working with Brale Inc. to ensure the stablecoin meets all regulatory requirements. This move aims to make DOLAI a key player in the world of decentralized finance (DeFi), helping BIT Mining grow alongside Solana’s booming on-chain economy.

Crypto experts are becoming more bullish on Solana. Matt Hougan, Chief Investment Officer at Bitwise, believes Solana could have a strong rally by the end of the year. He even compared its future potential to how Bitcoin surged from $40,000 to $125,000 in 2024 and how Ethereum nearly tripled in value earlier this year.

As of now, Solana (SOL) is priced at $226.42, showing a 1.38% increase in the last 24 hours. The daily trading volume is around $9.03 billion, indicating high interest and activity in the market.

Meanwhile, BIT Mining’s stock (BTCM) is also seeing gains. It’s currently trading at $2.83 on the New York Stock Exchange, up 2.54% for the day.

BIT Mining’s deeper involvement in Solana shows growing confidence in the blockchain’s future. With more companies adding SOL to their treasuries and exchange-traded fund (ETF) interest rising, Solana might be set for a strong finish to the year.