Bit Origin Buys 40.5 Million DOGE for New Treasury Plan

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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 $0.2659 .

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 $119,231.80 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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