PANews reported on July 22 that the small cryptocurrency mining company Bit Origin (stock code BTOG) announced the completion of its first batch of DOGE purchases, acquiring a total of 40,543,745 DOGE at an average purchase cost of approximately $0.2466 per coin. This purchase came less than a week after the company announced the establishment of a $500 million Dogecoin corporate treasury last Thursday.
The company's CEO Jinghai Jiang mentioned in a statement that, based on an understanding of the proof-of-work mechanism, he believes that Dogecoin's potential for application in small payments is approaching a turning point. The announcement specifically noted that this plan is partly inspired by Musk and his vision for a 'super app' on the social media platform X.
