SOLAI's Share Capital Expansion: A Strategic Catalyst for Blockchain Ecosystem Growth

The recent extraordinary general meeting (EGM) of SOLAI Limited, formerly BIT Mining, has marked a pivotal moment in its transformation from a cryptocurrency mining firm to a blockchain infrastructure powerhouse. By approving the issuance of 65,000 Class A II preference shares and authorizing 30 billion new Class A ordinary shares, the company has laid the groundwork for a strategic repositioning that could redefine its role in the crypto ecosystem. This capital expansion, coupled with its growing focus on Solana staking and AI-driven financial infrastructure, raises compelling questions about its long-term investment potential.

A Governance Realignment and Capital Flexibility

The EGM, held on December 29, 2025, granted Mr. Man San Vincent Law, founder and executive director, a dramatic increase in voting power-from 31.8% to 94.0%-through the issuance of 65,000 Class A II preference shares, each carrying the voting weight of 400,000 ordinary shares. This move, while consolidating control, signals a deliberate alignment of ownership with the company's strategic vision. The non-convertible nature of these shares and their lack of dividend rights suggest a focus on governance stability rather than immediate shareholder returns.

Simultaneously, the authorization of 30 billion new Class A ordinary shares provides SOLAI with unprecedented flexibility to raise capital for expansion. This massive increase in authorized shares-confirmed in shareholder approvals-enables the company to execute follow-on offerings, partnerships, or acquisitions without further shareholder approvals. Such flexibility is critical in a sector where rapid scaling often determines competitive advantage.

Strategic Allocation to Solana Staking and AI Infrastructure

SOLAI's capital-raising potential is now closely tied to its strategic bets on Solana and AI. The company has already demonstrated a commitment to the Solana ecosystem by amassing a treasury of 44,412 SOL tokens, valued at approximately $9.95 million as of September 2025. This positions it to capitalize on Solana's surging staking yields, which averaged 7.03% APY in October 2025, outperforming top validators by 36 basis points. With the newly authorized shares, SOLAI could further expand its staking operations, potentially becoming a key player in institutional-grade staking services-a sector projected to grow as demand for yield-generating crypto assets rises.

In parallel, the company's foray into AI-powered financial infrastructure, including the launch of DOLAI, a USD-backed stablecoin on Solana, underscores its ambition to bridge blockchain and AI. By leveraging its technical expertise in data infrastructure, SOLAI aims to develop tools that enhance on-chain efficiency and support AI-native transactions. The capital raised through the EGM and future offerings could accelerate R&D in this space, positioning the company at the intersection of two high-growth technologies.

Risks and Market Realities

Despite these strategic advantages, SOLAI faces headwinds. Its share price has declined by 30% recently, reflecting concerns over earnings performance and shareholder dilution. The company's transition from mining to infrastructure is still in its early stages, and execution risks remain. For instance, while Solana's staking ecosystem has shown institutional momentum-evidenced by Marinade Select surpassing 3.1 million SOL in TVL by November 2025-SOLAI's ability to capture a meaningful share of this market will depend on operational execution and validator performance.

Moreover, the 30 billion Class A shares, while a powerful tool for fundraising, could exacerbate dilution if deployed without clear value creation. Investors must scrutinize how the company allocates these shares: Are they reserved for strategic partnerships, employee incentives, or public offerings? The absence of explicit allocation details in SEC filings adds a layer of uncertainty.

A Long-Term Investment Thesis

Nevertheless, SOLAI's strategic moves warrant attention. The combination of a governance-aligned leadership, a capital structure optimized for growth, and a clear focus on Solana and AI infrastructure creates a compelling narrative. The company's rebranding from BIT Mining to SOLAI reflects a deliberate pivot toward blockchain's next frontier. If it can execute on its vision-scaling staking operations, developing AI-native tools, and leveraging its Solana treasury-SOLAI could emerge as a critical infrastructure provider in a sector poised for disruption.

For investors, the key question is whether the company can translate its capital flexibility into tangible value. The EGM has provided the tools; now it must prove it can wield them effectively. In a market where innovation and adaptability are paramount, SOLAI's bold repositioning offers both risk and reward.