Bit Origin Acquires 40.5M Dogecoin, Launches Digital Asset Treasury Initiative

Bit Origin (BTOG) has acquired approximately 40.5 million Dogecoin (DOGE) as part of its digital asset treasury initiative, backed by a $500 million capital facility. As of July 21, 2025, BTOG's holdings stand at 40,543,745 DOGE, with an average acquisition cost of $0.2466 per DOGE. Initially, this translates to about 0.691 DOGE per share in the company's treasury.

Bit Origin (BTOG) has made a significant strategic acquisition, purchasing approximately 40.5 million Dogecoin (DOGE) as part of its digital asset treasury initiative. This move is supported by a previously announced capital facility of up to $500 million. As of July 21, 2025, BTOG's holdings stand at 40,543,745 DOGE, with an average acquisition cost of $0.2466 per DOGE. This initial acquisition translates to about 0.691 DOGE per share in the company's treasury [1].

The acquisition was announced by Bit Origin's CEO, COO, and Chairman of the Board, Jinghai Jiang, who highlighted the potential of Dogecoin for micropayments. He noted that the token's utility potential is nearing an inflection point, driven by renewed developer activity and broader institutional interest in tokenization. Jiang also suggested that current market conditions align with Dogecoin's evolution towards decentralized finance [1].

This strategic move marks a significant step in Bit Origin's expansion, as it aligns with the company's understanding of cryptocurrency utility, particularly in micropayments. The establishment of a DOGE-Per-Share (DPS) metric demonstrates transparency and provides shareholders with a tangible measure of the company's asset value related to Dogecoin holdings [1].

However, the press release also highlights the known and unknown risks and uncertainties associated with investing in cryptocurrencies. The focus on Dogecoin may distract from Bit Origin's core business of cryptocurrency mining and its diversified expansion strategies, potentially causing concern among investors regarding strategic priorities [1].

References:
[1] https://decrypt.co/331033/bit-origin-buys-millions-dogecoin-after-500m-raise-doge-treasury
[2] https://seekingalpha.com/news/4469226-gamesquare-expands-digital-asset-treasury-program-to-250m-from-100m
[3] https://www.nasdaq.com/articles/bit-origin-ltd-announces-initial-purchase-405-million-doge-part-digital-asset-treasury