Bit Origin to Launch $500M Dogecoin Treasury

Bit Origin, a Singapore-based crypto mining company, has secured up to $500 million in equity and convertible debt to launch a Dogecoin (DOGE) corporate treasury strategy. The company has already closed $15 million and plans to use a significant portion for DOGE acquisitions, aiming to become a leading publicly traded DOGE holder and moving beyond mining infrastructure. CEO Jinghai Jiang highlighted the strategy's alignment with the growing utility of Dogecoin, including potential integration with X Money as part of Elon Musk’s vision for a global payments super-app. The announcement follows other public companies like SharpLink Gaming and Windtree Therapeutics diversifying their crypto reserves with Ethereum and BNB, respectively. Bit Origin’s stock surged 28% after the news, but its long-term outlook remains uncertain due to its microcap status and stock volatility. Institutional interest in DOGE is also rising, with increased open interest, funding rates, and discussion of spot DOGE ETFs in the US.