BIT Mining to change name to SOLAI Limited, ticker to SLAI

NEW YORK - BIT Mining Limited (NYSE:BTCM), a cryptocurrency infrastructure company with a market capitalization of $51.6 million, announced Friday it will change its name to "SOLAI Limited" and its ticker symbol to "SLAI" on the New York Stock Exchange. According to InvestingPro data, the stock has shown significant volatility, surging 108% over the past six months despite recent market challenges.

The company’s shareholders approved the name change at an extraordinary general meeting held on October 9, 2025. The American Depositary Shares are expected to begin trading under the new name and ticker symbol effective October 20, 2025.

According to Bo Yu, Chairman of BIT Mining, the rebranding represents a strategic shift from cryptocurrency mining to a technology enterprise focused on the intersection of artificial intelligence and blockchain.

"We see the next wave of innovation emerging where intelligent systems connect with decentralized infrastructure," Yu stated in the press release.

The company describes its expanded focus as building blockchain-based ecosystems spanning AI, stablecoins, payment infrastructure, and Solana treasury and staking operations. These initiatives aim to support various use cases including institutional settlement, commerce, consumer payments, and AI-native agent transactions. Despite current challenges, InvestingPro’s Fair Value analysis suggests the stock may be undervalued at current levels, though investors should note the company’s weak overall financial health score.

BIT Mining’s American Depositary Shares, each representing 100 Class A ordinary shares with a par value of $0.00005 per share, will continue trading under the current name and ticker until the change takes effect.

In other recent news, BIT Mining Limited has completed the second phase of its acquisition of cryptocurrency mining data centers and Bitcoin mining machines in Ethiopia. This development has increased the total power capacity of the data centers to 51 megawatts. The company issued 45,278,600 Class A ordinary shares to finalize this acquisition. Additionally, BIT Mining announced plans to rebrand as SOLAI Limited, pending shareholder approval, to reflect its strategic shift toward broader blockchain infrastructure development. In another strategic move, BIT Mining has expanded its Solana treasury by purchasing an additional 17,221 SOL tokens, bringing its total holdings to 44,412 SOL, valued at approximately $9.95 million.

Thumzup Media Corporation has also made headlines by completing a $50 million common stock offering. The raised capital is earmarked for the expansion into cryptocurrency mining, specifically through the acquisition of DogeHash Technologies. DogeHash currently operates 2,500 mining rigs, with plans to add 1,000 more units later this year. These developments highlight significant strategic shifts and expansions in the cryptocurrency sector for both BIT Mining and Thumzup Media Corporation.

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