BIT Mining Ltd – ADR (NYSE:BTCM) shares are trading higher Thursday morning after announcing an expansion of its Solana (CRYPTO: SOL) holdings. Here’s what investors need to know.
What To Know: The technology-driven cryptocurrency infrastructure company, which will soon be renamed SOLAI Limited, has purchased an additional 17,221 SOL. This acquisition brings its total treasury to over 44,000 SOL, with a market value of approximately $9.95 million as of September 10.
The company recently also announced the rollout of DOLAI, a USD-denominated stablecoin. Per BIT Mining, this development, in partnership with Bral Inc., is expected to enhance multi-chain interoperability and connect AI agents, merchants and consumers within the Solana ecosystem.
Benzinga Edge Rankings: Reflecting its strong recent price movement, Benzinga Edge stock rankings give BTCM a high Momentum score of 84.78.
Price Action: According to data from Benzinga Pro, BTCM shares are trading higher by 8% to $2.98 Thursday morning. The stock has a 52-week high of $8.07 and a 52-week low of $1.22.
Read Also: Bitcoin Braces For Fed Decision As Polymarket Traders Bet On A 0.25% Cut
How To Buy BTCM Stock
By now you're likely curious about how to participate in the market for BIT Mining – be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.
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