Bit Origin acquires 40.5 million Dogecoin for treasury strategy

Bit Origin Ltd (NASDAQ: BTOG) announced it purchased approximately 40.5 million Dogecoin tokens as part of its digital asset treasury initiative. The cryptocurrency mining company acquired the tokens at an average cost of $0.2466 per DOGE.

The purchase represents the first acquisition under Bit Origin's digital asset strategy, which is supported by previously announced capital facilities of up to $500 million. The company reported holding 40,543,745 DOGE tokens as of July 21, creating an initial DOGE-per-share ratio of approximately 0.691.

"From our experience in mining, we understand the tradeoffs that define proof-of-work systems," said Jinghai Jiang, CEO, COO and Chairman of Bit Origin. "We see Dogecoin's utility potential for micropayments nearing an inflection point, driven by renewed developer activity and broader institutional interest in tokenization."

The DOGE-per-share calculation is based on the total number of Class A and Class B ordinary shares outstanding as of April 18, 2025, according to the company's most recent report.

Bit Origin operates in the United States and is engaged in cryptocurrency mining while deploying blockchain technologies as part of diversified expansion strategies. The Singapore-based company describes itself as an emerging growth company in the digital asset sector.

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