Nasdaq-Listed Bit Origin Unveils $500M Capital Plan to Build Dogecoin Treasury

Nasdaq-listed company Bit Origin has unveiled that it has struck deals with accredited investors to secure up to $500 million in capital. It disclosed a $400 million equity sale and another $100 million through convertible notes. The funds will support the firm’s strategy to build a treasury based on Dogecoin holdings.

The announcement disclosed that the accumulation of Dogecoin highlights belief in the asset’s long-term viability as a low-cost, merchant-friendly payments option backed by a grassroots-driven network. 

Bit Origin Plans Long-Term DOGE Accumulation

Furthermore, the company is also exploring high-potential segments of the Dogecoin ecosystem, including infrastructure for miners, digital payment systems, and other strategic initiatives aimed at generating long-term value. 

“What started as a joke has evolved into a globally liquid asset with payments utility. Few digital assets rival Doge’s settlement speed and scale of community, which continues to drive adoption across peer-to-peer payments and online commerce,” Jinghai Jiang, CEO and Chairman of Bit Origin, said. 

As part of its strategic plan, the mining infrastructure firm aims to become one of the largest publicly traded holders of DOGE. Additionally, the firm’s strategy focuses on delivering sustained returns by increasing the Dogecoin-per-share ratio over time. 

Dogecoin for Digital Payments Future  

The Company expresses optimism regarding the future integration of dogecoin into digital payment infrastructures.

“Bit Origin is evolving beyond mining infrastructure to engage directly in the value and utility of digital assets,” Jiang added. 

Following the announcement, the firm has raised $15 million in the first round of its convertible debt funding. The company is expected to allocate a significant portion of the funds to acquiring Dogecoin as part of its treasury strategy.  

While most companies focus on treasuries for Bitcoin, Ethereum, or Solana, the firm believes that DOGE’s performance and community engagement will be worth it. 

Meanwhile, the announcement did not impact the asset’s price. As of the time of writing, DOGE was changing hands at $0.2098, representing a 0.1% increase over the last 24 hours. The memecoin has a market capitalization of over $31.874 billion. 

Founded in 2018, Bit Origin Ltd. is a U.S.-based emerging crypto mining company. It is actively deploying blockchain solutions and exploring cross-sector expansion to scale its ecosystem.