Key Highlights

● The NYSE sent SOLAI a delisting notice on July 16, 2026.

● Trading in the ADSs was suspended for falling below a US$15 million market capitalization standard.

● Each ADS represents 700 Class A ordinary shares.

● The company said operations and SEC reporting obligations are unaffected.

SOLAI Limited (OTC:SLAIY), formerly BIT Mining Limited, has attracted attention because its American Depositary Shares lost their New York Stock Exchange listing in July 2026. The securities are now quoted over the counter, and the SLAIY code is shown on the OTC Pink market. That shift in venue explains why the shares are in focus: liquidity, disclosure expectations and investor access can differ materially away from a major exchange.

Business and Sector

SOLAI describes itself as a technology-driven crypto currency infrastructure company. It operates cryptocurrency mining machines and data centers, and it offers rack space, utilities and cloud, virtual storage and backup services to third-party mining firms. The company was renamed from BIT Mining Limited in October 2025 and is listed as based in Akron, Ohio, with about 63 employees.

The sector is closely tied to digital asset prices, energy costs and mining difficulty, which means earnings for infrastructure providers can be volatile and cyclical.

Latest Announcement

On July 21, 2026 the company announced that it had received a delisting notice from the NYSE on July 16, 2026. Each ADS represents 700 Class A ordinary shares. The NYSE suspended trading in the ADSs on July 16, 2026 because the company fell below the continued listing standard requiring an average global market capitalization of at least US$15 million over 30 consecutive trading days, under Section 802.01B of the Listed Company Manual.

The company said it could request a review by a committee of the NYSE board, and that if the delisting proceeds the exchange will apply to the Securities and Exchange Commission to remove the ADSs. Chairman Man San Vincent Law said the company was evaluating its options, including seeking a review, and that business operations continue as usual. The company expected the ADSs or underlying shares to become eligible for quotation on an OTC Markets tier, with possibly lower liquidity. It stated that its operations and SEC reporting obligations were unaffected.

Financials and Context

This was not the first warning. On February 27, 2026 the company disclosed that the NYSE had notified it on January 29, 2026 that its ADSs had averaged below US$1.00 over 30 consecutive trading days ending January 28, 2026. The company then had six months to regain compliance. In the same release, independent director Qian Sun resigned for personal reasons and Zhan Chen was appointed as an independent director.

Risks

The principal risk is liquidity. Over-the-counter quotation can bring wider spreads, thinner trading and less visibility among institutional investors. The company's market capitalization is small, and the shares have previously fallen below key exchange thresholds. Crypto mining economics are also exposed to bitcoin price swings, power costs and regulatory developments.

The outcome of any NYSE review request is not yet confirmed, and the company's strategy following its rebranding remains subject to execution risk.

NYSE Review and OTC Trading Arrangements

SOLAI received an NYSE delisting notice on July 16, 2026 after falling below the continued listing standard requiring average global market capitalization of at least US$15 million over 30 consecutive trading days, and the NYSE suspended trading in its American Depositary Shares the same day. The company said it could request a review, that operations and SEC reporting obligations were unaffected, and that it expected the ADSs or underlying shares to become eligible for quotation on an OTC Markets tier.

Key items include any update on the NYSE review process, confirmation of the OTC trading arrangements, the next quarterly results and any filings under Form 6-K. Changes in mining economics and the company's capital position will also matter, given exposure to bitcoin prices, power costs and regulatory developments.