Dogecoin News Today: Bit Origin Secures $500 Million to Launch Dogecoin Treasury Strategy

Bit Origin Ltd, a publicly listed company on a major US exchange, has secured $500 million in equity and debt facilities to launch its Dogecoin treasury strategy. The company announced that it has entered into agreements with accredited investors for the sale of up to $400 million in Class A ordinary shares and up to $100 million in convertible debt. This strategic move positions Bit Origin to become one of the largest publicly traded holders of Dogecoin, aiming to deliver long-term value by increasing Doge-per-share.

The initiative reflects Bit Origin's belief in the potential of Dogecoin integrations into payment layers, such as X Money. Jinghai Jiang, CEO and Chairman of Bit Origin, highlighted the evolution of Dogecoin from a joke to a globally liquid asset with significant payment utility. He emphasized Dogecoin's settlement speed and the scale of its community, which continues to drive adoption across peer-to-peer payments and online commerce. Jiang also expressed hope that Dogecoin's performance and community make it a natural fit for X Money, aligning with Elon Musk's vision for X as a global super-app.

Bit Origin's accumulation of Dogecoin is driven by the network's grassroots strength and payment utility, characterized by low fees and merchant acceptance. The company plans to explore various value-generating operations within the Dogecoin ecosystem, including miner-facing services and payment applications. This strategy builds on Bit Origin's infrastructure roots and its commitment to the cryptocurrency mining business. The company has completed an initial closing of $15 million under the convertible debt facility and intends to use a significant portion of the proceeds for its initial Dogecoin acquisition.

Chardan acted as the placement agent in connection with the funded facility from ATW Partners. The company's forward-looking statements, which include expectations about future events and financial trends, are subject to known and unknown risks and uncertainties. Bit Origin undertakes no obligation to update these statements, except as required by law. The company believes that the expectations expressed in these forward-looking statements are reasonable but cautions investors that actual results may differ materially from the anticipated results.