- Bit Origin acquired 40.5M DOGE as part of its $500M crypto treasury diversification strategy.
- CEO Jinghai Jiang links DOGE’s potential to X Money’s super app and micro-payment adoption.
- Bit Origin aims to build a treasury-backed DOGE ecosystem beyond its core mining operations.
Bit Origin, the Nasdaq-listed Bitcoin mining firm, has officially entered the Dogecoin arena. On Monday, the company announced the purchase of over 40 million DOGE. The acquisition comes just days after Bit Origin unveiled its fundraising plan. The company aims to raise up to $500 million through equity and debt. It will use this capital to buy Dogecoin and build a crypto treasury.
Bit Origin invested nearly $10 million in the initial purchase of DOGE. It purchased 40,543,745 DOGE with the average price of the token at $0.2466. This move is an indication of a shift towards mining into a more expansive digital asset strategy focused on utility and payments.
The firm sees Dogecoin as more than just a meme coin. According to Jinghai Jiang, Bit Origin’s CEO and Chairman, DOGE is approaching an inflection point in utility. He cited growing developer activity and rising institutional interest in tokenization. He said, “Our new origin has begun.”
A Shift Toward a DOGE-Powered Ecosystem
Bit Origin is not alone in exploring treasury strategies around crypto. But this move sets it apart. The company is positioning itself as the first to back a treasury with a meme coin, aiming to support an entire payment ecosystem. Jiang said their mining experience helped them understand proof-of-work trade-offs. Now, they believe DOGE is ready for serious adoption. Bit Origin’s bet centers on Dogecoin’s potential for micropayments.
The company believes DOGE could play a major role in the coming financial ecosystem. That vision includes Elon Musk’s X platform. The upcoming X Money app may integrate DOGE, creating new use cases for fast, low-fee payments. Bit Origin also cited Dogecoin’s cultural strength. The coin’s meme legacy helped build global recognition and deep liquidity. The firm sees this as a foundation for future decentralized finance (DeFi) adoption. The company’s DOGE-per-share (DPS) now stands at roughly 0.691. This metric reflects DOGE holdings divided by the total outstanding Class A and B shares.
Related: Bit Origin Raises $500M to Build Dogecoin Treasury Strategy
DOGE Rally Follows the Announcement
Dogecoin’s price jumped after the news broke. It rose 5.5% to reach $0.28, and at the time of writing, DOGE was trading around $0.26. Bit Origin trades under the ticker BTOG and has a market cap near $45 million. Its share price surged over 90% after the treasury announcement last week.
Jiang emphasized that Bit Origin is not abandoning mining. Instead, the company is expanding its focus. This move blends mining knowledge with a modern asset strategy, backed by DOGE. The firm also plans to issue regular updates on DOGE holdings. It may continue buying Dogecoin as market conditions evolve. For now, the 40.5 million DOGE marks only the beginning.
Bit Origin’s treasury-backed DOGE strategy signals a new chapter for the meme coin’s utility narrative. It may also inspire other firms to consider crypto in their balance sheets. The bet ties the company’s future to the evolving use cases of one of crypto’s most iconic tokens.
