CoinVoice has recently learned that, according to GlobeNewswire, Nasdaq-listed company Bit Origin Ltd (BTOG) has announced an agreement with qualified investors to issue up to 400 million USD of Class A common stock and 100 million USD of convertible bonds, with the funds raised to be used to establish the company's Dogecoin (DOGE) reserve strategy.
The company has completed the first delivery of convertible bonds (15 million USD) and plans to use most of the funds for the initial Dogecoin acquisition. According to the announcement, this strategy aims to achieve long-term value by increasing the 'number of Dogecoins held per share', while the company is also exploring services and payment applications targeted at miners.
Bit Origin is a US cryptocurrency mining company that is currently diversifying into blockchain technology. This securities issuance is managed by Chardan as the placement agent, and the specific terms are governed by the 6-K document submitted by the company on July 17, 2025. [Original link]
