Dogecoin News Today: Bit Origin Pivots from Pork to Crypto, Buys 40.5M Dogecoin for $9.9M, Targets DeFi Expansion

Bit Origin, once a leading player in China’s pork processing sector, has made a striking pivot into the cryptocurrency industry, acquiring 40.5 million Dogecoin (DOGE) as part of a $500 million digital asset treasury initiative. The move marks the company’s transition from food processing to blockchain-focused operations, signaling a strategic bet on the meme token’s potential in decentralized finance (DeFi) and micropayments. The acquisition, valued at nearly $9.9 million, reflects an average purchase price of $0.2466 per DOGE, positioning Bit Origin as one of the largest corporate holders of the asset.

The firm’s leadership, including CEO Jinghai Jiang, has emphasized Dogecoin’s utility in low-cost, high-speed transactions, aligning with the company’s broader vision to leverage blockchain for payment systems and digital commerce. Jiang highlighted the token’s growing institutional traction and developer activity, framing it as a scalable solution for retail payments. “Dogecoin’s speed and adoption among users create a strong foundation for peer-to-peer transactions,” he stated, underscoring the company’s belief in its role within the DeFi ecosystem.

Bit Origin’s strategy involves expanding its treasury through equity sales and convertible debt, with plans to raise $500 million over time. The initial funding has been allocated to miner services and payment applications on the Dogecoin network. The company’s filings suggest a focus on leveraging the token’s low fees and merchant adoption to build sustainable payment infrastructure, a departure from its previous business model of slaughter and distribution.

The market has responded to the announcement with increased activity, as Dogecoin prices briefly surged above $0.25 in the days preceding the disclosure. Whale investors and institutional buyers have shown heightened interest, with large wallets accumulating over 250 million DOGE in a 48-hour period. Notably, a single wallet linked to a major brokerage holds over 28 billion tokens, fueling speculation about a potential Dogecoin ETF by 2025. These developments reinforce Bit Origin’s thesis that the token is nearing a “tipping point” for mainstream adoption.

The firm’s shift underscores a broader trend of corporate entities diversifying into digital assets to capitalize on blockchain innovation. By redirecting resources from traditional agriculture to crypto infrastructure, Bit Origin aims to position itself at the forefront of a payments revolution. Its investments in mining infrastructure and DeFi tools reflect a long-term commitment to a decentralized financial ecosystem, where Dogecoin’s speed and accessibility could challenge legacy payment systems. As the company navigates this transition, its success will hinge on the token’s continued growth in institutional and retail adoption, as well as its ability to scale utility beyond speculative trading.