- Bit Origin initiates crypto treasury strategy by acquiring 40.5 million DOGE at an average price of approximately $0.2466 per token.
- The company now holds 40,543,745 DOGE with a Dogecoin-per-share value estimated at 0.691 based on current outstanding shares.
- CEO Jinghai Jiang cites Dogecoin’s growing micropayment utility and developer activity as key drivers behind the strategic purchase.
Nasdaq-listed Bit Origin Ltd (NASDAQ: BTOG) has completed its first acquisition of Dogecoin, purchasing 40,543,745 DOGE valued at approximately $10 million.
Bit Origin Commences Digital Asset Treasury Strategy
Bit Origin’s latest move marks the company’s initial entry into crypto asset holdings through a treasury initiative. This acquisition was made under the company’s broader strategy supported by capital facilities of up to $500 million.
According to the company’s announcement, the average acquisition cost of Dogecoin was $0.2466 per token. As of July 21, 2025, the company’s Dogecoin holdings stand at 40,543,745 DOGE. This translates to an initial Dogecoin-per-share (DPS) value of approximately 0.691, based on the company’s reported outstanding Class A and Class B ordinary shares.
CEO Sees Dogecoin Utility Growing Amid Market Shifts
Jinghai Jiang, CEO, COO, and Chairman of Bit Origin, stated that the company’s journey with digital assets has officially started. Referencing their mining experience, Jiang acknowledged the challenges and decisions within proof-of-work systems.
“We see Dogecoin’s utility potential for micropayments nearing an inflection point,” Jiang noted. He cited increasing developer activity and growing institutional interest in tokenization as key factors. Jiang emphasized that while Dogecoin’s cultural background has fueled liquidity and global recognition, its role in decentralized finance is starting to take shape.
Market Reaction and Strategic Positioning
The move by Bit Origin comes as more publicly traded companies explore cryptocurrencies as part of treasury diversification. Bit Origin’s entry into Dogecoin positions the company in alignment with growing corporate interest in blockchain-based financial systems. The strategic buy may serve as a foundation for further involvement in the digital asset market, particularly within the proof-of-work space.
With the capital facility already in place, future asset acquisitions may follow, reinforcing Bit Origin’s commitment to a crypto-inclusive treasury model.
