To address the issues of high costs and poor equipment coordination in the semi-continuous process of open-pit coal mines, this study optimizes the bucket wheel continuous coal mining technology. First, the capacity of bucket wheel excavators and supporting equipment was calculated and selected based on parameters such as minable coal reserves. Second, the operational modes and layout of the pioneering transportation system for the continuous process were investigated, revealing the coupling relationship between bucket wheel steps and lower-level operations. Subsequently, a coal seam optimization model for the continuous mining process was developed, and the total benefits of applying the process to each coal seam were quantified. Finally, a phased implementation plan for deploying the continuous mining process was proposed. Validated through the case study of Hongshaquan No. 1 Open-pit Coal Mine, the results demonstrate: ① After optimization, the annual cost savings for a single deployment in the B4 coal seam reached 64.669 million yuan, while the combined application in B2’+B3+B4 coal seams increased savings to 178.4 million yuan/year, with unit costs reduced by 23%–35%; ② By designing “three-mining-one-relocation” and “two-mining-one-relocation” cyclic operation modes, combined with a graded relocation strategy for end-slope belt conveyors, the annual effective operational time increased to 4,842 hours, reducing equipment idle time by 21% compared to the original process. These findings highlight significant optimization outcomes and provide a theoretical framework for achieving “safety-economy-efficiency” synergy in continuous mining processes for open-pit coal mines in high-latitude regions.