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Nasdaq-listed Bit Origin launches DOGE treasury reserve, receives $500 million in equity and debt financing
Odaily News Nasdaq-listed company Bit Origin (NASDAQ: BTOG) announced that it has reached an agreement with a number of qualified investors to launch the DOGE treasury reserve, with a total financing amount of up to US$500 million, including US$400 million in equity financing and US$100 million in convertible bond financing.
The company plans to hold DOGE as a core asset for a long time, with the goal of becoming one of the worlds largest listed DOGE holders and achieving long-term value enhancement through growth in the amount of coins held per share.
Bit Origin said that DOGE is playing an increasingly important role in peer-to-peer payment and e-commerce scenarios with its extremely fast settlement speed, large community size and growing merchant acceptance. The company hopes that DOGE can become an important part of Elon Musks X platform X Money payment system.
This strategy marks Bit Origins transformation from a traditional mining infrastructure business to a digital asset operation company oriented towards public chain value participation. The company also plans to explore new businesses such as payment applications, miner services, and ecological construction around DOGE.
Currently, the company has completed the first convertible bond financing of US$15 million, which will be used for the first batch of DOGE purchases. ATW Partners provided financial support, and Chardan served as the exclusive agent for this round of financing.
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