# SkyAI Sells Solana Treasury as Bitmine Hits 6M ETH

> SkyAI dumps all Solana holdings while Bitmine accumulates 6.04 million ETH, which coin is the better buy?
- Title: SkyAI Sells Solana Treasury as Bitmine Hits 6M ETH | Shortify
- Summary: SkyAI dumps all Solana holdings while Bitmine accumulates 6.04 million ETH, which coin is the better buy? SkyAI sold its entire Solana treasury and Bitmine…
- Keywords: skyai, solana, eth, bitmine, treasury, crypto, eth holdings, solana treasury, Sells, Hits, 24/7 Wall St.
- Source: 24/7 Wall St. — https://247wallst.com/investing/cryptocurrency/2026/10/20/skyai-sold-its-entire-solana-treasury-as-bitmine-topped-6-million-eth-which-coin-is-the-better-buy
- Author: Sam Daodu
- Published: 2026-10-20T15:00:03+00:00
- Read time: 1 min
- Topics: skyai, solana, eth, bitmine, treasury, crypto, eth holdings, solana treasury
## SkyAI Sells Solana Treasury
SkyAI sold its entire Solana treasury and initiated a $201.3 million share buyback as of October 16, 2026.
## Bitmine Hits 6.04 Million ETH
Bitmine reported 6.04 million ETH holdings and $15.1 billion in crypto, cash, and marketable securities as of October 19, 2026.
## SOL and ETH Both Declined
SOL dropped 3.4% and ETH fell 5.4% over the past week as of October 20, 2026.
## SkyAI's Share Price Rises
SkyAI shares rose 5.3% to close at $2.79 on October 19, 2026, up 64.6% over the past month.
## Bitmine's ETH Accumulation
Bitmine added about 10,000 ETH weekly while its dollar value fell from $17.4 billion to $16.2 billion between October 5 and 12, 2026.
## SkyAI's Treasury Strategy Shift
SkyAI eliminated SOL price dependency for its share buyback after selling all Solana holdings.
## Bitmine's Staking Focus
Bitmine's new revenue source is ETH staking, aiming to eventually own 5% of all ETH.
## SOL Shows Stronger Near-Term Gains
SOL gained 34.1% over the last 90 days versus ETH's 23.8% rise, with Alpenglow update approaching.
## ETH's Potential Rebound
ETH might rebound if staking yields improve, but SOL could weaken if it trails ETH post-Alpenglow.
## Market Response to Treasury Moves
SOL fell less than ETH after SkyAI's exit, suggesting treasury flows aren't driving prices significantly.
## Key takeaway

SkyAI sold its entire Solana treasury and Bitmine reached 6.04 million ETH, with SOL showing stronger near-term gains than ETH.