BIT Mining's Solana move sparks stock surge to three-year high<\/h3>\n <\/div>\n \n <\/i>\n <\/span>\n <\/a>\n<\/div>\n\nSOLAI Limited said Monday that investors at an Aug. 14 extraordinary general meeting first approved increasing authorized Class A shares from 38.4 billion to 70 trillion, representing the authorized capacity for the pre-consolidation shares.<\/p>\n
They then approved an immediate consolidation<\/a> of every 700 ordinary shares into one, reducing the authorization to 100 billion shares in post-consolidation units.<\/p>\nIn comparable post-consolidation units, the former 38.4 billion-share authorization would have equaled about 54.86 million shares, making the new ceiling roughly 1,823 times larger. Monday\u2019s results release did not identify a financing, acquisition, compensation program, or other specific use for that capacity.<\/p>\n\n
\n \n \n Related Reading<\/span>\n Bitcoin miners start funding pivot to AI with debt while selling BTC to stay liquid<\/h3>\n <\/div>\n \n <\/i>\n <\/span>\n <\/a>\n<\/div>\n\nNYSE suspended SOLAI\u2019s ADSs<\/a> on July 16 after their average global market capitalization over 30 consecutive trading days fell below the exchange\u2019s $15 million minimum. An exchange Form 25 attachment<\/a> later said the Solana<\/a> treasury firm did not appeal within the 10-business-day window and that removal was scheduled to take effect Aug. 17.<\/p>\nDeutsche Bank\u2019s depositary record<\/a> listed the sponsored ADR as active on the OTC Pink market under SLAIY at the reporting cutoff.<\/p>\nThe former Bitcoin<\/a> mining firm reported 1.92 billion<\/a> Class A shares issued and outstanding as of March 31, then disclosed another 1.16 billion shares<\/a> issued on June 2 as acquisition consideration.<\/p>\nThat produces a pre-consolidation total of about 3.09 billion shares before any later changes, and a simple 700-for-1 conversion of that total yields about 4.41 million shares.<\/p>\n![\"Infographic](\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-b4b560e0-8355-4b1c-9787-7e949ebe4c73.png\")
<\/a>Infographic showing Solana treasury SOLAI\u2019s share reset, including a 700-for-1 consolidation and a post-consolidation total of 100 billion authorized shares.<\/figcaption><\/figure>\nSOLAI\u2019s holder-level rounding rule and any issuance, cancellation, or adjustment after June 2 mean the calculation is not a current cap table. On that limited basis, the apparent authorized but unissued capacity would be about 99.996 billion shares.<\/p>\n\n
\n \n \n Related Reading<\/span>\n Bitcoin treasury investors are turning on companies diluting them to keep buying<\/h3>\n <\/div>\n \n <\/i>\n <\/span>\n <\/a>\n<\/div>\n\nThe ordinary-share consolidation also follows a separate July action<\/a> that changed SOLAI\u2019s ADS ratio from 100 to 700 ordinary shares per ADS through a one-for-seven ADS reverse split, without issuing or canceling underlying shares.<\/p>\nThe Aug. 17 company release and Deutsche Bank<\/a> record, read alongside the July depositary filing<\/a> that preceded the shareholder vote, did not explain how that ratio would operate after the later consolidation of the ordinary shares themselves.<\/p>\nAn updated issued-share count, a stated use for the authorization, and any new depositary instruction are now the key disclosures for OTC holders.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shareholders approved the vast capacity after the former BIT Mining\u2019s NYSE suspension, but no specific use or exact post-consolidation share count was disclosed.<\/p>\n","protected":false},"author":1264,"featured_media":555795,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80573,77952,77968,2376],"tags":[81114,81073,76769,78295],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"\n
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In comparable post-consolidation units, the former 38.4 billion-share authorization would have equaled about 54.86 million shares, making the new ceiling roughly 1,823 times larger. Monday\u2019s results release did not identify a financing, acquisition, compensation program, or other specific use for that capacity.<\/p>\n\n
Bitcoin miners start funding pivot to AI with debt while selling BTC to stay liquid<\/h3>\n <\/div>\n \n <\/i>\n <\/span>\n <\/a>\n<\/div>\n\nNYSE suspended SOLAI\u2019s ADSs<\/a> on July 16 after their average global market capitalization over 30 consecutive trading days fell below the exchange\u2019s $15 million minimum. An exchange Form 25 attachment<\/a> later said the Solana<\/a> treasury firm did not appeal within the 10-business-day window and that removal was scheduled to take effect Aug. 17.<\/p>\nDeutsche Bank\u2019s depositary record<\/a> listed the sponsored ADR as active on the OTC Pink market under SLAIY at the reporting cutoff.<\/p>\nThe former Bitcoin<\/a> mining firm reported 1.92 billion<\/a> Class A shares issued and outstanding as of March 31, then disclosed another 1.16 billion shares<\/a> issued on June 2 as acquisition consideration.<\/p>\nThat produces a pre-consolidation total of about 3.09 billion shares before any later changes, and a simple 700-for-1 conversion of that total yields about 4.41 million shares.<\/p>\n<\/a>Infographic showing Solana treasury SOLAI\u2019s share reset, including a 700-for-1 consolidation and a post-consolidation total of 100 billion authorized shares.<\/figcaption><\/figure>\nSOLAI\u2019s holder-level rounding rule and any issuance, cancellation, or adjustment after June 2 mean the calculation is not a current cap table. On that limited basis, the apparent authorized but unissued capacity would be about 99.996 billion shares.<\/p>\n\n
\n \n \n Related Reading<\/span>\n Bitcoin treasury investors are turning on companies diluting them to keep buying<\/h3>\n <\/div>\n \n <\/i>\n <\/span>\n <\/a>\n<\/div>\n\nThe ordinary-share consolidation also follows a separate July action<\/a> that changed SOLAI\u2019s ADS ratio from 100 to 700 ordinary shares per ADS through a one-for-seven ADS reverse split, without issuing or canceling underlying shares.<\/p>\nThe Aug. 17 company release and Deutsche Bank<\/a> record, read alongside the July depositary filing<\/a> that preceded the shareholder vote, did not explain how that ratio would operate after the later consolidation of the ordinary shares themselves.<\/p>\nAn updated issued-share count, a stated use for the authorization, and any new depositary instruction are now the key disclosures for OTC holders.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shareholders approved the vast capacity after the former BIT Mining\u2019s NYSE suspension, but no specific use or exact post-consolidation share count was disclosed.<\/p>\n","protected":false},"author":1264,"featured_media":555795,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80573,77952,77968,2376],"tags":[81114,81073,76769,78295],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"\n
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Deutsche Bank\u2019s depositary record<\/a> listed the sponsored ADR as active on the OTC Pink market under SLAIY at the reporting cutoff.<\/p>\n The former Bitcoin<\/a> mining firm reported 1.92 billion<\/a> Class A shares issued and outstanding as of March 31, then disclosed another 1.16 billion shares<\/a> issued on June 2 as acquisition consideration.<\/p>\n That produces a pre-consolidation total of about 3.09 billion shares before any later changes, and a simple 700-for-1 conversion of that total yields about 4.41 million shares.<\/p>\n SOLAI\u2019s holder-level rounding rule and any issuance, cancellation, or adjustment after June 2 mean the calculation is not a current cap table. On that limited basis, the apparent authorized but unissued capacity would be about 99.996 billion shares.<\/p>\n\n The ordinary-share consolidation also follows a separate July action<\/a> that changed SOLAI\u2019s ADS ratio from 100 to 700 ordinary shares per ADS through a one-for-seven ADS reverse split, without issuing or canceling underlying shares.<\/p>\n The Aug. 17 company release and Deutsche Bank<\/a> record, read alongside the July depositary filing<\/a> that preceded the shareholder vote, did not explain how that ratio would operate after the later consolidation of the ordinary shares themselves.<\/p>\n An updated issued-share count, a stated use for the authorization, and any new depositary instruction are now the key disclosures for OTC holders.<\/p>\n","protected":false},"excerpt":{"rendered":" Shareholders approved the vast capacity after the former BIT Mining\u2019s NYSE suspension, but no specific use or exact post-consolidation share count was disclosed.<\/p>\n","protected":false},"author":1264,"featured_media":555795,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80573,77952,77968,2376],"tags":[81114,81073,76769,78295],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"\n<\/a>Bitcoin treasury investors are turning on companies diluting them to keep buying<\/h3>\n <\/div>\n \n <\/i>\n <\/span>\n <\/a>\n<\/div>\n\n