Bit Origin, a cryptocurrency mining company based in Singapore and listed on NASDAQ (BTOG), has made headlines by acquiring 40 million Dogecoin (DOGE) for $10 million. This strategic move, announced on July 21, 2025, marks the company’s first venture into a digital asset treasury strategy by holding Dogecoin, a widely recognized meme-based cryptocurrency,
A $10 Million Leap On DOGE
The firm is supported by up to $500 million in capital, which includes $400 million in equity and $100 million in convertible debt. This financial backing indicates a strong commitment to exploring the potential of Dogecoin. Following the announcement, the market reacted positively, with Bit Origin’s stock experiencing a surge of 12% to 90%.
CEO Jinghai Jiang believes that Dogecoin is more than a popular trend. Its low fees and quick transaction times make it useful for small payments and decentralized finance. Bit Origin wants to use these benefits to create services focused on Dogecoin for crypto miners and new payment systems.
This acquisition shows a major change for the company. It is shifting from focusing only on mining to creating value through digital assets. However, the fluctuating price of Dogecoin might worry traditional investors.
Market Reaction to Acquisition
After the acquisition news, Bit Origin’s stock price rose significantly, even though it had dropped 35% to 63% this year. Dogecoin’s price also increased, trading between $0.23 and $0.24, which is a rise of 6-11.62%. The trading volume for futures reached $1.48 billion.
Bit Origin holds 40,543,745 DOGE in its treasury, giving a DOGE-per-share ratio of 0.691 for its investors. The company is hopeful about Dogecoin’s future, especially its potential to integrate into payment platforms like X Money, supported by a strong community, and a growing number of merchants accepting it.
With a $10 million investment in Dogecoin, Bit Origin takes a bold step in the digital market. It is one of the first public companies to use DOGE as a treasury asset, setting a new example. Through this strategy and solid financial backing, Bit Origin aims to use Dogecoin for payments and finance.
While the volatility of cryptocurrencies can be challenging, Dogecoin’s fast and affordable transactions offer many opportunities. This significant change might encourage other companies to rethink their strategies in the crypto market, potentially affecting the overall market.
