Recently, significantly raised interests have emerged for the 2 µm waveband as an extended new window for fiber optic communication. Much research progress has been made on the photonic integrated circuits for the 2 µm waveband, especially on the CMOS-compatible silicon-on-insulator wafer. In this work, a silicon integrated microring modulator (MRM) with record high-speed performances at the 2 µm waveband was demonstrated. An L-shaped PN junction was specially designed for 2 µm to achieve a high modulation efficiency with VπL of 0.85V·cm. The measured 3 dB bandwidth is 18 GHz, supporting up to 50 Gbps signaling at 2 µm. Additionally, optical bistability induced by the thermo-optical effect and nonlinear effects was analyzed theoretically and observed experimentally in the 2 µm MRM for the first time to our knowledge. Nonlinear coupled mode theory and the Runge–Kutta method were used to simulate the behaviors of bistability in the 2 µm MRM. The simulation and experimental results indicate that, when the MRM is launched by a high optical power, the distorted resonant spectrum under an optical bistable state deteriorates the modulation efficiency and signal performances. This work breaks the record of high-speed silicon MRM at 2 µm, drawing a promising prospect for the silicon photonic integration and high-speed interconnection at the 2 µm waveband, and it provides the referenceable analysis of optical bistability, which guides the design and experimental investigation of 2 µm MRM.