The company told Bitcoin.com News that it spent approximately $4.89 million to acquire the solana ( SOL), establishing what it describes as a growing SOL treasury. This acquisition directly supports the newly operational validator.

Bit Mining will operate the validator internally using its proprietary technology. By staking its self-acquired SOL through this self-run infrastructure, the company aims to contribute to the Solana network’s decentralization and security while earning onchain rewards.

This move follows Bit Mining’s July 10 announcement outlining a strategic pivot into Solana. That plan included intentions to raise up to $300 million for SOL acquisitions and related infrastructure development. The validator launch represents the initial execution phase of this strategy.

“This validator launch is a foundational step in operationalizing our Solana strategy. We’re not just holding SOL, we’re helping power the network,” said Bo Yu, Bit Mining’s chairman and COO. “It demonstrates our belief in Solana’s potential and our commitment to building meaningful infrastructure.”

Bit Mining stated that the latest deployment begins a broader effort to expand its presence within the Solana validator network as it scales its SOL treasury and infrastructure. The company is actively exploring additional opportunities across the Solana ecosystem, aiming to capture financial and strategic benefits from its growth.

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