[Bitcoin hits $113.8K all-time high as liquidity influx backs BTC price discovery]
Bitcoin price set new highs above $113,800 as stablecoin reserves surged and retail investor-driven selling subsided.

<p><img src="https://static.fwimg.io/img/1px.png" alt="Bitcoin hits $113.8K all-time high as liquidity influx backs BTC price discovery"></p><p>Bitcoin price set new highs above $113,800 as stablecoin reserves surged and retail investor-driven selling subsided.</p>

Bitcoin hits $113.8K all-time high as liquidity influx backs BTC price discovery

The new all-time high on Thursday follows multiple attempts to break above the $112,000 level.

Bitcoin Breaks Fresh Record Topping $113,000

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BIT Mining Limited (NYSE: BTCM) is a technology-driven cryptocurrency company headquartered in Hong Kong. It was formerly known as 500.com and was founded in 2013.
Initially starting out as an online lottery business, the company has transformed since 2018 to focus on cryptocurrency mining, covering mining, hardware development and data center operations for Bitcoin, Litecoin, Dogecoin and Ethereum Classic. BIT Mining has a place in the crypto industry.
However, as traditional mining profit margins decline, the company announced a major strategic transformation in July 2025 - establishing a treasury plan centered on Solana (SOL), marking its diversified layout from traditional mining to the blockchain ecosystem.
According to the announcement, BIT Mining plans to raise US$200 million to US$300 million to build a SOL treasury worth up to US$300 million.
The company will convert existing crypto assets (such as Bitcoin) into SOL and accumulate tokens through long-term holding and incremental acquisitions.
In addition, BIT Mining plans to run a validation node on the Solana network, earning an annualized return of 3-10% through staking, while supporting the decentralization and security of the network.
The company will also use its blockchain technology expertise to explore deep integration with the Solana ecosystem, such as developing related applications or infrastructure. This plan aims to reduce dependence on a single crypto asset and capture the growth potential of the Solana ecosystem.
BIT Mining's SOL Treasury plan is a landmark move in its transformation from traditional mining to the blockchain ecosystem. Through fundraising, asset conversion and ecological participation, the company aims to seize Solana's growth opportunities and maximize capital efficiency and returns.
However, market volatility, regulatory risks and execution difficulties will test its ability to implement its strategy. Investors need to pay close attention to subsequent progress to assess the long-term value of this transformation.