Key Takeaways:
- Bit Origin has launched a $9.9M Dogecoin acquisition as part of a $500M digital asset strategy, moving beyond its previous focus on Bitcoin mining.
- The firm, formerly a pork processor, is pivoting toward digital asset utility, citing Dogecoin’s rising relevance in micropayments and tokenization.
- Over 81% of Dogecoin’s supply is held by just 908 wallets, highlighting its concentrated ownership compared to Bitcoin’s more decentralized distribution.
Bit Origin, a China-based company formerly focused on pork processing, has launched a digital asset treasury strategy with an initial $9.9 million purchase of 40.5 million Dogecoin (DOGE) at $0.24 per coin.
This move is backed by a $500 million capital facility from share sales and convertible debt.
🚨 We’re excited to announce!
— BitOrigin (@BitOriginLtd) July 21, 2025
We have acquired ~40.5 million Dogecoin (DOGE) as part of our first treasury acquisition under the $500M capital facility.
Our new origin has begun.https://t.co/D2JQ9ik1sC 🐶✨https://t.co/sCEPstE2QC
The company previously entered crypto through a Bitcoin mining partnership in Wyoming, which was terminated in 2024 due to national security concerns.
CEO Jinghai Jiang, formerly of MineOne, said the firm sees Dogecoin’s micropayment utility reaching a tipping point due to increased developer activity and institutional interest.
The company’s transition from mining infrastructure to broader digital asset utility began in late 2021, culminating in its rebranding to Bit Origin in 2022. It no longer operates in pork processing.
While Dogecoin remains highly concentrated in a small number of wallets – 908 addresses hold over 81% of the supply – Bit Origin believes current conditions support its shift toward decentralized finance.
In contrast, Bitcoin’s supply is more widely distributed across over 152,000 addresses.
Bit Origin views Dogecoin as increasingly relevant for payments in the evolving crypto ecosystem.
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:
