Bit Mining stock soared over 250% in early pre-market trading on July 10 after the company announced a major strategic shift toward Solana. However, despite the initial excitement, the momentum did not last long. The stock fell into negative territory as regular trading began.
Bit Mining Surge in Pre-Market: The Big Catch
It is worth noting that the sharp spike occurred after BIT Mining announced plans to fully pivot into the Solana
SOL
$156.5
24h volatility:
1.7%
Market cap:
$83.87 B
Vol. 24h:
$6.30 B
ecosystem. According to the announcement, the company aims to raise between $200 million and $300 million to acquire SOL.
BIT Mining also confirmed that it would convert its existing digital asset holdings into Solana
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