The pork treatment company based in China and Bitcoin Miner Bit Origin officially launched its initiative as cryptographic treasure with its first acquisition of 40.5 million Dogecoin.
In a statement on Monday, the company said that the purchase of Dogecoin (DOGE) was the “first strategic acquisition” as part of its digital initiative asset Treasury, supported by a sale of shares and a debt offer to raise $ 500 million.
At an average price of $ 0.24 per room, Bit Origin would have spent around $ 9.9 million for its recent Dogecoin acquisition. The token is currently negotiated at $ 0.26, according to Nansen.
In particular, Bit Origin has links with an cryptography exploitation company linked to China which was forced to leave a property in Wyoming after an order from the White House.
Bit Origin has teamed up with Mineone Partners Limited in 2022 to operate a crypto mining installation in Cheyenne, Wyoming, providing strategic and operational support. The cryptography operating company linked to China was forced to leave the property in 2024 due to its proximity to a base of nuclear missiles.
Before joining Bit Origin in 2021 as Director of Operating and CEO, Jinghai Jiang was director of Mineone Partners Limited.
Bit Origin PDG says that Dogecoin at the inflection point
Dogecoin was launched in 2013 by software engineers Billy Markus and Jackson Palmer as a system for the payment of jokes satiring the speculation of wild cryptography at the time, but it has since become the eighth greatest cryptocurrency by market capitalization.
Jiang said Bit Origin had adopted Dogecoin for his treasure on other cryptocurrencies because they see his “utility potential for micropaments near a inflection point, drawn by the renewed activity of developers and his broader institutional interest for tokenization.”
“While we adopt its cultural origins, which have helped stimulate global liquidity and familiarity, we believe that current market conditions align with the evolution of Dogecoin towards decentralized finance.”
Food company swivel further in the crypto
On July 17, Bit Origin concluded agreements with investors to sell up to $ 400 million in equity and up to $ 100 million in convertible debts to finance the Dogecoin treasury strategy.
Jiang said in a press release at the time: “Bit Origin evolves beyond the mining infrastructure to engage directly in the value and utility of digital assets.”
Bit Origin was launched in 2019 under the name of food in China Xiangtai and was mainly engaged in pork transformation, including slaughter, packaging, distribution and large.
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However, in December 2021, the company announced that it had bought 742 new first -level bitcoin minors as part of a crypto pivot and changed its name in Bit Origin in 2022.
In 2025, he no longer mentioned pork treatment in his corporate profile.
Dogecoin’s biggest holders
Dogecoin is currently largely biased towards whale holders. Crypto Tracker Bitinfocharts data show that more than 81% of the Dogecoins offer is maintained among 908 addresses.
An address contains more than 28 billion, while the following 14 largest portfolios have more than 43 billion. Crypto Exchange Exolix said in March that a portfolio linked to the Robinhood brokerage company holds 28 billion tokens.
While an unidentified owner is the second largest holder with 8.90 billion Dogecoin, and Crypto Exchange Binance is the third holder of 7.65 billion.
In comparison, around 82% of Bitcoin (BTC) takes place between 152,002 portfolio addresses, according to Bitinfocharts.
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