SOLAI Limited Announces Changes to Board of Directors

Rhea-AI Summary

SOLAI (NYSE: SLAI) announced board and executive changes effective April 29, 2026. Mr. Bo Yu resigned as Chairman of the Board, Chief Operating Officer, and as chair of the Compensation and Nominating & Corporate Governance Committees for personal reasons. The Board appointed Mr. Man San Vincent Law as Chairman and chair of those committees; he will continue as Strategy Committee chair.

The release states Mr. Yu's resignation involves no disagreement with the company or Board.

Positive

• Internal succession to Chairman by current director
• Committee continuity with Law retaining Strategy Committee chair

Negative

• Vacancy in Chief Operating Officer role following Bo Yu resignation
• Loss of a Co-Founder from executive leadership

News Market Reaction – SLAI

-5.41%

9 alerts

-5.41% News Effect

-5.8% Trough in 2 hr 19 min

-$871K Valuation Impact

$15.23M Market Cap

0.4x Rel. Volume

On the day this news was published, SLAI declined 5.41%, reflecting a notable negative market reaction. Argus tracked a trough of -5.8% from its starting point during tracking. Our momentum scanner triggered 9 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $871K from the company's valuation, bringing the market cap to $15.23M at that time.

Data tracked by StockTitan Argus on the day of publication.

AKRON, Ohio, April 29, 2026 /PRNewswire/ -- SOLAI Limited (NYSE: SLAI) (previously traded under "BTCM") ("SOLAI" or the "Company"), a technology-driven personal AI and digital infrastructure provider, today announced that Mr. Bo Yu has resigned from his positions as Chairman of the Board of Directors (the "Board"), Chief Operating Officer, and as Chairman of both the Compensation Committee and the Nominating and Corporate Governance Committee, effective April 29, 2026. Mr. Yu resigned for personal reasons and his resignation does not involve any disagreement with the Company or the Board on any matter relating to the Company's operations, policies, or practices.

Concurrently, the Board has appointed Mr. Man San Vincent Law, formerly an Executive Director on the Board, as Chairman of the Board and Chair of both the Compensation Committee and the Nominating and Corporate Governance Committee, effective April 29, 2026. Mr. Law will continue to serve as Chair of the Strategy Committee.

Mr. Law commented, "On behalf of the Board and the management team, I would like to extend our deepest gratitude to Bo for his longstanding leadership of and contributions to SOLAI. As a Co-Founder, I have worked closely with him to shape our strategic direction over the years, from our transition into the blockchain sector to the development of our AI infrastructure. I look forward to building upon the strong foundation Bo helped establish. We are deeply grateful for his outstanding contributions, and we wish him all the very best in his future endeavors."

"It has been a privilege to serve SOLAI and work alongside such a dedicated team over the years," said Mr. Bo Yu. "I am proud of what we have accomplished together, I have full confidence in the Company's future under the Board's continued stewardship, and I look forward to following the Company's continued success."

About SOLAI Limited

SOLAI Limited (previously known as "BIT Mining Limited") (NYSE: SLAI) (previously traded under "BTCM") is a technology-driven personal AI and digital infrastructure provider. Building upon its historical legacy in digital asset mining and blockchain network operations, the Company is leveraging extensive experience in large-scale hardware deployment, data center operations, and high-performance computing to build the foundational infrastructure for personal AI computing and digital asset ecosystems globally.

Forward-Looking Statements

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "going forward," "outlook" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Important factors that could cause SOLAI's actual results to differ materially from those indicated in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

For further information:

SOLAI Limited
ir@solai.com 
ir.solai.com
www.solai.com 

Christensen Advisory
Jason Ng
Tel: +852-2117-0861
Email: solai@christensencomms.com

View original content:https://www.prnewswire.com/news-releases/solai-limited-announces-changes-to-board-of-directors-302757034.html

SOURCE SOLAI Limited

FAQ

Why did Bo Yu resign from SOLAI (SLAI) on April 29, 2026?

He resigned for personal reasons and not due to a dispute. According to the company, the resignation does not involve any disagreement with SOLAI or the Board concerning operations, policies, or practices.

Who replaces Bo Yu as Chairman of the Board at SOLAI (SLAI)?

Man San Vincent Law was appointed Chairman and committee chair effective April 29, 2026. According to the company, he was previously an Executive Director and will continue to chair the Strategy Committee.

Does Bo Yu's resignation affect SOLAI's committee leadership (SLAI)?

Yes. Committee leadership changed with Law named chair of Compensation and Nominating & Corporate Governance. According to the company, Law will hold those roles effective April 29, 2026 and continue as Strategy Committee chair.

Will SOLAI (SLAI) retain continuity in its strategic leadership after the change?

The company indicates continuity through Law's long-term board role and Strategy Committee chairmanship. According to the company, Law is a co-founder who has worked on strategy alongside Bo Yu.

Did SOLAI (SLAI) report any disagreement surrounding the leadership change?

No. The company says the resignation was for personal reasons and did not involve any disagreement with SOLAI or the Board. That statement is explicitly attributed to the company in the announcement.