Bit Origin Buys 40.5 Million DOGE for New Treasury Plan

Crypto News Business

Bit Origin Drops Pork Processing, Picks Up 40.5M DOGE for New Treasury Plan

Written by Aaron S.,

Editor-In-Chief

Last Updated: July 22, 2025

Key Takeaways

Bit Origin spent $9.9 million on 40.5 million Dogecoin as part of its new digital asset treasury plan;
The company is raising $500 million to back the Dogecoin strategy through shares and debt;
Once a pork processor, Bit Origin fully shifted to crypto mining and investment by 2025.

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Bit Origin Drops Pork Processing, Picks Up 40.5M DOGE for New Treasury Plan

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Bit Origin, a company that once focused on processing pork, announced that the company purchased 40.5 million Dogecoin DOGE $0.1390 .

According to a July 21 press release, the purchase is the first under its new plan to hold digital assets as part of its balance sheet.

The company stated that it paid about $0.24 per DOGE, which puts the total cost near $9.9 million. Bit Origin is raising $400 million through share sales and an additional $100 million through convertible debt, with agreements already in place as of July 17.

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Company chairman and CEO Lucas Jiang stated at the time that they chose Dogecoin because it is becoming more useful for small payments.

He pointed to a rise in developer interest and growing attention from institutions as reasons why the coin may play a larger role in decentralized finance (DeFi).

Bit Origin began in 2019 under the name China Xiangtai Food. In December 2021, the company shifted focus by buying hundreds of Bitcoin BTC $89,819.33 mining machines. The company changed its name to Bit Origin in 2022. By 2025, it no longer described itself as a food company.

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