Solana gets another treasury firm: BIT Mining Limited

Crypto mining company BIT Mining is shifting its focus to Solana, “marking a critical milestone in the company’s long-term growth trajectory,” according to a Thursday press release.

Shares of BIT Mining surged on the news, climbing as high as $10.88 before settling at around $5 as of 11:30 a.m ET, a 100% surge from yesterday. Solana has increased roughly 2% in the last 24 hours.

BIT Mining plans to raise up to $300 million in phases to accumulate solana tokens, convert its existing crypto holdings to solana, and run validator nodes to generate on-chain staking rewards.

Solana is “one of the most dynamic and promising ecosystems in the blockchain space,” BIT Mining CEO Xianfeng Yang said in a statement. “This strategic move reflects our commitment to staying adaptive and responsive in an ever-evolving industry.”

More Crypto

See all Crypto

Sage D. Young

Solana has tanked since spot solana ETFs launched, despite the funds only recording positive flows to date

Solana’s ETF inflows are a supportive signal, but they aren’t the marginal price setter for the token, one expert explained.

Yaël Bizouati-Kennedy

Bitcoin falls to lowest level since November as long-term holders accelerate selling

A majority of bitcoin investors are officially underwater and the asset’s continued fall “could intensify selling pressure as investors attempt to limit losses.”

Sage D. Young1/28/26

Ripple launches treasury platform to manage cash and cryptocurrencies

Ripple, the firm closely tied to the fifth-largest cryptocurrency, XRP, introduced a new treasury platform for digital asset and traditional cash management for users like financial officers, treasurers, and accountants.

Ripple’s move comes more than three months after it acquired treasury software provider GTreasury for $1 billion, one of several steps to grow the firm’s position in corporate finance.

Combining Ripple’s blockchain rails and GTreasury’s software, the new platform’s goal is to simplify treasury operations. It eliminates settlement delays with payment times of three to five seconds and optimizes yield from working capital 24/7 through tokenized money market funds such as BlackRock’s BUIDL and overnight secure repo markets with RLUSD, according to a Tuesday blog post.

Ripple Treasury also aims to provide “real-time cash positions, automated forecasting, and seamless reporting across traditional cash, digital assets, RLUSD, and XRP holdings,” the blog post stated.

Last year, Ripple filed its national banking license application with the US Office of the Comptroller of the Currency, while the firm’s subsidiary Standard Custody & Trust Company applied for a Federal Reserve master account, which would allow Ripple to hold RLUSD reserves directly with the Fed.

XRP has seen $2.4 billion in trading volume in the last 24 hours, increasing 1.8% in the period. The token’s all-time high was set in July 2025 at $3.65. Meanwhile, spot XRP ETFs had nearly $9.2 million worth of inflows on Tuesday, bringing cumulative inflows to $1.4 billion.

Yaël Bizouati-Kennedy

1/28/26

Bitcoin is underperforming precious metals now, but experts warn of “short-sighted” view

The debate on investing in digital gold vs. actual gold continues, but it’s helpful to put each one’s performance in context.

Bitcoin Medals Manufactured At Sakamoto Metal

Yaël Bizouati-Kennedy

1/27/26

Bitcoin miners hit with downgrades, winter storm

While the bitcoin hashrate has crashed, experts say this is a temporary reaction to the weather.

US-CRYPTOCURRENCY-CLIMATE-EMPLOYMENT-CHINA

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.