Bit Origin closed the first $15 million under the debt facility and plans to use a large portion of this to purchase Dogecoin.
CEO Jinghai Jiang framed the move as a step “beyond mining infrastructure” toward direct participation in assets the firm believes will power future payment networks.
Bit Origin says Dogecoin’s fast settlement, active merchant base, and large user community justify a treasury strategy designed to “increase Doge-per-share” over time.
Proceeds not used for token acquisition may be used to fund miner services, payment applications, and other Dogecoin-focused business lines.
Bit Origin expects the planned reserve to position it among the largest publicly traded holders of Dogecoin once fully deployed. The share sale portion is priced at $10, and the notes convert at undisclosed terms.
The Form 6-K stated that management views Dogecoin’s low fee structure and community-led development model as durable features suited for retail payments at scale.
Bit Origin will disclose Dogecoin purchase details in subsequent SEC filings as funds are deployed.
