Solana finance company BIT Mining has nearly doubled its holdings, with Upexi reporting "adjusted SOL per share" up 126%

Solana's fund management companies Upexi and BIT Mining have expanded their SOL positions, with UPXI increasing its holdings of 18,000 tokens, holdings of more than 2 million SOLs, and BTCM's holdings almost doubled to reach 44,000 SOLs. SOL traded at close to $226, up 1.2%, close to its all-time high. Upexi has over $456 million in crypto funds management, while BIT Mining has $9.9 million in crypto funds management. The two stocks rose by more than 5% and 6% respectively. These initiatives are part of a broader trend in digital asset fund management companies (DATs) that accumulate cryptocurrencies by selling stocks or bonds, providing leveraged market exposure. Solana's fund management company holds a total of at least 4.67 million SOLs. Upexi reported its net asset value of 1.2 times, unrealized income was $142 million and daily pledge earnings of $105,000. BIT Mining will be renamed SOLAI and will collaborate on developing AI-native stablecoins.