#Bitcoin Mining Firm Bit Origin Raises $500M to Build a Dogecoin Treasury
In a surprising pivot, publicly traded Bitcoin mining firm Bit Origin has announced plans to raise $500 million to purchase #Dogecoin as part of a new digital asset treasury strategy.
đŠ The breakdown:
đč $400M via stock sale
đč $100M in convertible debt
đč Purpose: Accumulate DOGE and expand beyond đč mining into active crypto treasury management
đŁïž Chairman Jinghai Jiang said:
âDOGE has evolved from a meme into a fast, globally liquid asset with real utility.â
đïž He also hinted that Bit Origin is betting on a future Dogecoin integration into Elon Muskâs âX Moneyâ super-app â a long-rumored move that continues to fuel speculation.
đ Bit Origin (BTOG) stock soared +90% today to $0.63, despite being down over 35% YTD.
Meanwhile, $DOGE is up 2% today and +25% this month, though it remains 71% below its 2021 ATH.
đ§ This marks the latest trend of public companies embracing Dogecoin â with cannabis and biotech firms also announcing DOGE-focused treasury strategies this year.
