Bit Origin raises $500 million to build dogecoin treasury

Bit Origin Ltd (NASDAQ: BTOG), a Singapore-based cryptocurrency mining company, has made a significant strategic move to establish a Dogecoin (DOGE) treasury. In July 2025, the company announced it had secured up to $500 million in capital facilities to fund its digital asset initiative, with a primary focus on accumulating DOGE.

This funding is comprised of up to $400 million in Class A ordinary shares and $100 million in convertible debt from accredited investors.

Key Details of the Strategy:

Initial Acquisition: Bit Origin has already made its first purchase under this new plan, acquiring approximately 40.5 million DOGE at an average cost of $0.2466 per token.

A “DOGE-Per-Share” Approach: The company’s goal is to increase the amount of DOGE held per share, thereby providing its shareholders with direct exposure to the digital asset.

Evolution Beyond Mining: According to CEO Jinghai Jiang, this strategy marks a major shift for the company, which is evolving beyond its traditional mining business to directly engage with the value and utility oBit Origin Ltd (NASDAQ: BTOG), a Singapore-based cryptocurrency mining company, has made a significant strategic move to establish a Dogecoin (DOGE) treasury. In July 2025, the company announced it had secured up to $500 million in capital facilities to fund its digital asset initiative, with a primary focus on accumulating DOGE.

This funding is comprised of up to $400 million in Class A ordinary shares and $100 million in convertible debt from accredited investors.

Key Details of the Strategy:

Initial Acquisition: Bit Origin has already made its first purchase under this new plan, acquiring approximately 40.5 million DOGE at an average cost of $0.2466 per token.

A “DOGE-Per-Share” Approach: The company’s goal is to increase the amount of DOGE held per share, thereby providing its shareholders with direct exposure to the digital asset.

Evolution Beyond Mining: According to CEO Jinghai Jiang, this strategy marks a major shift for the company, which is evolving beyond its traditional mining business to directly engage with the value and utility of digital assets.

Belief in DOGE’s Utility: Bit Origin’s decision is not based on speculation but on a belief in Dogecoin’s potential for micropayments and its growing institutional interest in tokenization. The company also cited the asset’s low fees and fast transaction speeds as key factors.

First of its Kind: This move is particularly notable as Bit Origin is reportedly the first publicly listed company on a major U.S. exchange to specifically adopt Dogecoin as a core treasury asset, a strategy that has been popularized by companies like MicroStrategy with Bitcoin.

The company plans to use the remaining capital from its facility to make further DOGE acquisitions, with the long-term goal of becoming one of the largest publicly traded holders of Dogecoin. The announcement has been a key driver for a recent rally in Dogecoin’s price and is seen by some as a significant step toward the institutionalization of meme coinsf digital assets.

Belief in DOGE’s Utility: Bit Origin’s decision is not based on speculation but on a belief in Dogecoin’s potential for micropayments and its growing institutional interest in tokenization. The company also cited the asset’s low fees and fast transaction speeds as key factors.

First of its Kind: This move is particularly notable as Bit Origin is reportedly the first publicly listed company on a major U.S. exchange to specifically adopt Dogecoin as a core treasury asset, a strategy that has been popularized by companies like MicroStrategy with Bitcoin.

The company plans to use the remaining capital from its facility to make further DOGE acquisitions, with the long-term goal of becoming one of the largest publicly traded holders of Dogecoin. The announcement has been a key driver for a recent rally in Dogecoin’s price and is seen by some as a significant step toward the institutionalization of meme coins