Bit Origin increased its holdings of over 40 million DOGE at an average price of $0.2466, completing its first treasury strategy purchase

ChainCatcher news, according to the company's announcement, Bit Origin (stock code: BTOG) announced on Monday that it has increased its holdings of 40,543,745 DOGE, with an average purchase price of approximately $0.2466 per coin. This move comes less than a week after the company officially established a treasury centered around DOGE.

The company has a market value of approximately $45 million, and its stock price is below $0.8. Last Thursday, Bit Origin announced that it has secured up to $500 million in equity and debt financing to initiate an enterprise-level Dogecoin reserve.

Bit Origin's CEO stated, "Our new starting point has begun. With our experience in the mining sector, we fully understand the trade-offs of proof-of-work (PoW) systems. We believe that, in the context of developers becoming active again and institutions showing increasing interest in tokenization, Dogecoin's practical potential for micro-payments is approaching a tipping point."