Catenaa, Friday, July 25, 2025- Bit Origin has completed its first purchase of Dogecoin, acquiring more than 40 million tokens to inaugurate a newly established DOGE-focused corporate treasury strategy.
The microcap crypto mining firm said Monday it bought 40,543,745 DOGE at an average price of $0.2466.
The acquisition comes days after Bit Origin revealed it had secured up to $500 million through equity and debt to fund a long-term Dogecoin treasury reserve.
The initiative marks a notable pivot in corporate altcoin investment strategies.
Bit Origin, trading under the ticker BTOG with a market cap near $45 million, joins a select group of public companies backing the Shiba Inu-themed cryptocurrency.
Shares were trading below 80 cents at the time of the announcement.
Chief Executive Jinghai Jiang said the move builds on the firm’s mining background and signals a belief that Dogecoin is entering a new phase of utility.
He cited renewed developer activity and institutional momentum as key drivers, while pointing to Elon Musk’s X platform and its financial wing, X Money, as part of the broader outlook for DOGE adoption.
Bit Origin emphasized that while it recognizes Dogecoin’s meme-driven roots, the current market cycle supports its evolution into a token with serious use cases, particularly in micropayments and decentralized finance.
The DOGE price climbed 5.5% to $0.28 following the purchase. Bit Origin now joins Dogecoin Cash Inc. and Neptune Digital Assets in backing DOGE as a balance-sheet asset, a trend reminiscent of early corporate Bitcoin treasury plays.
