Key Takeaways:
- CleanCore Solutions is transitioning into a Dogecoin treasury company with a $175M investment backed by major crypto firms.
- The stock plummeted over 60% following the announcement, mirroring declines seen in other companies adopting similar DOGE strategies.
- CleanCore’s revamped leadership includes figures from the Dogecoin Foundation and House of Doge, aiming to build institutional DOGE utility.
CleanCore Solutions, a Nebraska-based maker of aqueous ozone cleaning systems, saw its stock plunge more than 60% after announcing a pivot to become a Dogecoin treasury company.
The firm raised $175 million in a private placement from over 80 investors, including Pantera, GSR, FalconX, and Borderless, to acquire Dogecoin (DOGE) as its primary reserve asset.
Big news for @dogecoin! Together with the @DogecoinFdn and @houseofdoge , we’re supporting the launch of the first official Dogecoin Treasury. A major step for institutional adoption and long-term growth.
— 21Shares (@21Shares) September 2, 2025
Read the full press release: https://t.co/kt8fW4jXYQ pic.twitter.com/agOWFragIb
Leading the initiative is newly appointed board chairman Alex Spiro, an attorney known for representing Elon Musk.
As part of the transition, CleanCore is partnering with the Dogecoin Foundation and its affiliate House of Doge.
Foundation Director Timothy Stebbing and House of Doge CEO Marco Margiotta have joined CleanCore’s leadership, with Margiotta serving as chief investment officer.
The company will also receive guidance from 21Shares, focusing on treasury governance, staking-style yield strategies, and institutional DOGE investment products.
Despite the ambitious plan, markets reacted negatively.
CleanCore’s stock fell from $6.86 to $2.69, down 54% overall.
CleanCore Solutions $ZONE is converting to become the first ever Dogecoin Treasury company in partnership with the House of Doge. Stock immediately plummets 59%. What a world. pic.twitter.com/xqHYHXixYu
— Eric Balchunas (@EricBalchunas) September 2, 2025
The move follows similar Dogecoin-focused strategies by Spirit Blockchain Capital, Dogecoin Cash Inc., and Bit Origin – all of which have seen steep share declines.
Meanwhile, Dogecoin itself has dropped ~33% in 2025, fueling investor skepticism.
About The Author
Efe Bravo, a seasoned journalist, delivers compelling insights into the cryptocurrency and blockchain industry.
His articles offer a deep dive into the latest trends, projects, and technological advancements shaping the future of digital finance.
Check Efe out on:
