Bit Origin Soars 14.23% on Dogecoin Acquisition

On July 21, 2025, Bit Origin's stock surged by 14.23% in pre-market trading, marking a significant rise in its share price.

Bit Origin has made a strategic move by acquiring 40.5 million Dogecoin at an average cost of $0.2466 per DOGE, totaling approximately $10 million. This represents the first implementation of their digital asset treasury initiative, backed by substantial capital facilities of up to $500 million. The purchase establishes an initial DOGE-Per-Share ratio of 0.691, creating a direct correlation between the company's cryptocurrency holdings and shareholder value.

This acquisition marks a significant strategic evolution for Bit Origin beyond its cryptocurrency mining operations. While Bitcoin typically dominates corporate treasury strategies in the crypto space, Bit Origin's choice of Dogecoin is particularly interesting. Despite its meme-coin origins, Dogecoin offers specific advantages including lower transaction fees, faster block times, and an inflationary supply model that makes it potentially more suitable for everyday transactions and micropayments.

The timing of this purchase aligns with what appears to be increasing institutional interest in alternative cryptocurrencies beyond Bitcoin. By emphasizing Dogecoin's "utility potential for micropayments" and referencing "renewed developer activity," management signals they're positioning this not merely as a speculative asset but as a strategic technological bet on Dogecoin's evolving ecosystem.

This treasury diversification represents a material change in Bit Origin's risk profile and financial strategy. While offering potential upside if Dogecoin appreciates, it also introduces significant volatility to the balance sheet. With approximately 0.7% of Dogecoin per share, the company has effectively created a hybrid investment vehicle that combines its core business with direct cryptocurrency exposure for shareholders.